Financial News: Dutch Economy Grows As Estimated In Q3

Dutch Economy Grows As Estimated In Q3

12/24/2024 - 01:46:00 (RTTNews)

(RTTNews) - The Dutch economy expanded for the second straight quarter as initially estimated in the three months ending in September, the latest data from the Central Bureau of Statistics showed on Tuesday.

Gross domestic product rose 0.8 percent sequentially in the third quarter, though slightly slower than the revised 1.0 percent rebound in the second quarter. That was in line with the flash data published on November 14.

The overall growth in the third quarter was mainly driven by increased household consumption and government expenditure.

The expenditure breakdown showed that household consumption grew 0.9 percent over the quarter as they spent more on clothing, home furnishings, and energy. Government spending also rose 0.8 percent, which was more evident in healthcare and public administration.

Considering other demand components, gross fixed capital formation rose 0.4 percent. Both exports and imports climbed by 0.4 percent and 0.6 percent, respectively.

On an annual basis, GDP expanded at an accelerated pace of 1.7 percent versus a 0.8 percent recovery in the previous quarter, as estimated. Further, this was the strongest growth since the first quarter of 2023.

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