Imports G&S in Netherlands
Netherlands - Imports Goods and Services
Dutch economy keeps a steady pace in Q1
Economic growth was steady in the opening quarter, growing 0.5% quarter-on-quarter to match the expansion recorded in the final quarter of last year. Compared to the same period a year earlier, growth fell to 1.7%, down from the 2.2% increase clocked in the final quarter of 2018.
The first quarter’s expansion was driven by resilient domestic demand, thanks to robust albeit softer fixed investment growth (Q1: +2.1% quarter-on-quarter; Q4: +4.0% qoq) and stock building, which could be linked to Brexit uncertainty. On the other hand, household consumption came to a near standstill, growing 0.1% over the previous quarter (Q4: +0.5% qoq). This was also despite robust retail sales turnover throughout the month and the labor market tightening even further. Moreover, private consumption was capped by a notable increase in inflation and a sharp deterioration in consumer confidence; in February, consumers were pessimistic about the economy for the first time in four years. Meanwhile, government consumption was stable at 0.5% in the quarter (Q4: +0.5% qoq).
The external sector dragged on economic growth, as the rebound in exports was outpaced by a stronger swing in imports. Exports of goods and services expanded 0.8% quarter-on-quarter, contrasting the 1.6% contraction in the final quarter of last year. Imports of goods and services, meanwhile, grew 1.6% over the prior quarter and this was chiefly due to services imports, with demand for goods virtually unchanged.
Going forward, the Dutch economy should continue growing at a steady, albeit more moderate, pace this year. A tight labor market is seen supporting private consumption growth in part through wage gains. The government’s slightly more expansionary fiscal policy should further boost the economy. Downside risks remain present on the external side, however, especially concerning the trade spat between the United States and China, an uncertain Brexit and U.S.-EU trade tensions.
FocusEconomics Consensus Forecast panelists see GDP growing at a softer pace of 1.7% in 2019, which is unchanged from last month’s projection. For 2020, the panel expects the economy to expand 1.6%.
Netherlands - Imports G&S Data
|Imports (G&S, annual variation in %)||1.0||4.2||8.4||4.1||5.4|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||0.15||5.70 %||May 10|
|Exchange Rate||1.12||0.65 %||May 13|
|Stock Market||544||-0.57 %||May 13|
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May 21, 2019
Consumer sentiment in the Netherlands was stable at minus 3 in May from the prior month, matching the long-term average of minus 3 over the last 20 years. Underlying data revealed the stable reading reflected a slight improvement in consumers’ views on the economic climate while their willingness to part ways with their cash was stable.
May 14, 2019
Economic growth was steady in the opening quarter, growing 0.5% quarter-on-quarter to match the expansion recorded in the final quarter of last year.
May 1, 2019
At the start of the second quarter, the Dutch manufacturing sector continued to lose steam: Operating conditions improved at the weakest pace since June 2016, with the manufacturing Purchasing Managers’ Index (PMI) dropping to 52.0 in April from 52.5 in March.
April 23, 2019
Following eight consecutive drops in consumer confidence, sentiment among Dutch consumer ticked up in April to minus 3 from minus 4 in March.
April 1, 2019
The Dutch manufacturing sector continued to lose steam at the close of the first quarter, as operating conditions expand at a 33-month low with the manufacturing Purchasing Managers’ Index (PMI) dropping to 52.5 in March from 52.7 in February.