Netherlands: Economy slows in Q3 following a stellar performance in Q2
November 14, 2017
The Dutch economy slowed markedly in the third quarter, according to preliminary data released by the Central Bureau of Statistics (CBS) on 14 November. GDP increased 0.4% quarter-on-quarter, down from the impressive 1.5% quarter-on-quarter growth rate in the prior quarter and slightly below market expectations of a 0.5% figure. Growth was, nonetheless, broad-based: Fixed investment, private consumption and exports grew in Q3 over the previous quarter.
A year-on-year comparison showed that the pace of expansion in the Dutch economy slowed marginally in the third quarter from the previous quarter; GDP grew 3.0%, slightly below the previous quarter’s 3.3% year-on-year expansion. The result was driven by a pick-up in the growth of exports, fixed investments and private consumption. Exports of goods and services increased at a quicker pace than in the previous two quarters. Re-exports, which are exports of imported products, performed remarkably well. Fixed investment growth was chiefly focused on residential property, while the pick-up in private consumption was partially reflective of the improved labor market dynamics.
More detailed data will be released on 22 December.
Author: Jan Lammersen, Economist