Financial News: Dutch Economy Rebounds Strongly In Q2

Dutch Economy Rebounds Strongly In Q2

08/14/2024 - 07:36:00 (RTTNews)

(RTTNews) - The Dutch economy returned to growth territory in the second quarter on the back of strong exports, preliminary data from the Central Bureau of Statistics showed on Wednesday.

Gross domestic product rose 1.0 percent sequentially in the June quarter, reversing a 0.3 percent fall in the first quarter.

The rebound was largely attributed to a 1.3 percent growth in exports of goods, especially chemical products, food and luxury goods, and machinery and equipment. Meanwhile, imports rose at a weaker pace of 0.4 percent. As a result, the trade surplus made the most positive contribution to economic growth in the second quarter.

Considering other demand components, government consumption grew by 1.0 percent, while household consumption declined by 1.0 percent. Investments rose 0.4 percent, which was more evident in the transport, housing, and machinery segments.

On an annual basis, GDP recovered 0.8 percent in the second quarter after falling 0.6 percent in the first quarter.

Separate official data showed that household consumption declined 0.7 percent annually in July, in contrast to the 0.1 percent rise in June. It was the first fall in six months. Households bought more services but fewer goods.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

New York Manufacturing Index Indicates Significant Turnaround In September (08 hr(s), 04 min(s), 43 sec(s) ago)
(RTTNews) - The Federal Reserve Bank of New York released a report on Monday showing regional manu ...Full Story»

New York Manufacturing Index Unexpectedly Turns Positive In September (09 hr(s), 08 min(s), 43 sec(s) ago)
(RTTNews) - The Federal Reserve Bank of New York released a report on Monday showing regional manu ...Full Story»

Denmark Producer Prices Rise Most In 18 Months (09 hr(s), 41 min(s), 43 sec(s) ago)
(RTTNews) - Denmark's producer prices increased further and at the fastest pace in eighteen mo ...Full Story»

UK House Prices Rise On Bank Of England Rate Cut: Rightmove (10 hr(s), 17 min(s), 43 sec(s) ago)
(RTTNews) - UK house prices increased in September as the traditionally busier Autumn market start ...Full Story»

Czech Producer Price Inflation Eases To 1.1% (10 hr(s), 18 min(s), 43 sec(s) ago)
(RTTNews) - The Czech Republic's industrial producer price inflation eased in August from an 1 ...Full Story»

Eurozone Hourly Labor Cost Growth Slows In Q2 (11 hr(s), 04 min(s), 43 sec(s) ago)
(RTTNews) - Eurozone hourly labor cost growth softened in the second quarter on slower wage growth ...Full Story»

Italy Trade Surplus Grows In July (11 hr(s), 07 min(s), 43 sec(s) ago)
(RTTNews) - Italy's foreign trade surplus increased in July from a year ago as exports grew fa ...Full Story»

Eurozone Trade Surplus Rises In July (11 hr(s), 16 min(s), 43 sec(s) ago)
(RTTNews) - The euro area trade surplus increased notably in July due to the sharp rebound in expo ...Full Story»