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Financial News: Dutch GDP Growth Steady At 0.5%

Dutch GDP Growth Steady At 0.5%

08/14/2019 - 04:05:00 (RTTNews)

(RTTNews) - The Dutch economy grew at a steady pace in the second quarter, preliminary data from the Central Bureau of Statistics showed Wednesday. Gross domestic product grew 0.5 percent sequentially, the same rate as seen in the previous two quarters. Economists had forecast the rate to ease to 0.3 percent.

The growth was driven by fixed asset investment, household consumption and the trade balance.

Investment in fixed asset increased 5.3 percent and consumers spent 1.7 percent more compared to last year. Exports gained 3 percent and imports advanced 2.5 percent in the second quarter.

On a yearly basis, economic growth accelerated to 2 percent from 1.7 percent in the first quarter.

Another report from the statistical office showed that exports growth accelerated to 1.6 percent in June from 0.8 percent in May. At the same time, imports advanced 3.2 percent annually.

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