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Financial News: Dutch Economy Expands In Q1

Dutch Economy Expands In Q1

06/24/2022 - 01:56:00 (RTTNews)

(RTTNews) - The Dutch economy expanded in the first quarter underpinned by household spending, revised data from the Central Bureau of Statistics showed Friday.

Gross domestic product grew 0.4 percent sequentially in the first quarter instead of flat growth estimated initially. This was followed by a 0.7 percent rise in the fourth quarter of 2021.

On the expenditure-side, household spending grew 1.5 percent, while government spending dropped 0.6 percent.

Gross investment in fixed asset decreased 0.3 percent from the previous quarter. Exports and imports fell 0.3 percent and 0.4 percent, respectively.

On a yearly basis, the economy expanded 6.7 percent, which was revised down from the 7.0 percent estimated on May 17. Nonetheless, the pace of growth accelerated from 6.2 percent in the fourth quarter.

Based on available information, economic growth for 2021 was revised to 4.9 percent from 5.0 percent.

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