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Financial News: Dutch GDP Growth Improves In Q2

Dutch GDP Growth Improves In Q2

08/17/2022 - 07:15:00 (RTTNews)

(RTTNews) - The Dutch economy expanded at a faster pace in the three months ended June on the back of strong investment, net exports and household consumption, preliminary data from the Central Bureau of Statistics showed on Wednesday.

Gross domestic product grew 2.6 percent sequentially in the second quarter, faster than the revised 0.5 percent rise in the March quarter.

On the expenditure-side, gross investment in fixed assets grew 5.2 percent and household spending increased 0.9 percent.

Exports and imports increased by 2.7 percent and 1.6 percent, respectively, over the previous quarter. Meanwhile, government consumption showed a mild increase.

The trade, transport and hospitality industry, the business services industry and the culture, sports, recreation and other services industry contributed the most to growth, the agency said.

On a yearly basis, GDP growth moderated to 5.3 percent in the second quarter from 6.7 percent in the first quarter.

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