GDP in Netherlands
Netherlands - GDP
Economy posts impressive growth in Q2
The Netherlands’ economy picked up substantially in the second quarter of 2017 on the back of strong external demand and private consumption. GDP grew 1.5% in seasonally-adjusted terms over the previous quarter, according to preliminary data released by Statistics Netherlands on 16 August, following a 0.7% expansion in Q1. According to Statistics Netherlands, this is only the third time in the 21st Century that the economy has experienced such impressive quarterly growth. In annual terms, the economy grew 3.3% in Q2 over the same quarter last year, a slight acceleration compared to Q1’s 3.2% expansion.
The quarter-on-quarter expansion resulted from stronger private consumption as Dutch households spent more on both goods and services. Fixed investment also expanded in Q2 thanks to higher investment in residential property and automobiles. The solid performance of the domestic sector was underpinned by falling unemployment, a thriving housing market and very upbeat consumer sentiment.
More detailed data will be released on 22 September.
For 2017, FocusEconomics Consensus Forecast panelists see GDP growing 2.1%, which is unchanged from last month’s projection. For 2018, the panel expects the economy to expand 1.7%.
Netherlands - GDP Data
|Economic Growth (GDP, annual variation in %)||-1.1||-0.2||1.4||2.3||2.2|
5 years of economic forecasts for more than 30 economic indicators.
Netherlands GDP Chart
Source: Statistics Netherlands and FocusEconomics calculations.
|Bond Yield||0.56||-2.09 %||Sep 20|
|Exchange Rate||1.19||-0.61 %||Sep 21|
|Stock Market||528||-0.04 %||Sep 21|
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September 1, 2017
The NEVI Manufacturing Purchasing Managers’ Index (PMI), a co-production between IHS Markit and NEVI, broke another multi-year high in August, coming in at 59.7, up from the previous month’s 58.9.
August 30, 2017
The Central Bureau of Statistics’ (CBS) business confidence index showed that manufacturers’ business sentiment decreased for the second consecutive month.
August 22, 2017
Despite still being without a newly-formed coalition government, the seasonally-adjusted consumer confidence index inched up to reach the joint-highest level in 2017 so far, matching the figure last seen in April of this year.
August 16, 2017
The Netherlands’ economy picked up substantially in the second quarter of 2017 on the back of strong external demand and private consumption.
August 1, 2017
In July, the NEVI Manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit and NEVI, beat the previous month’s multi-year high as it rose from 58.6 in June to 58.9.