Financial News: Dutch Q2 GDP Growth Confirmed At 1.0%

Dutch Q2 GDP Growth Confirmed At 1.0%

09/23/2024 - 04:01:00 (RTTNews)

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

Gross domestic product rose 1.0 percent sequentially in the June quarter, reversing a 0.3 percent fall in the first quarter. That was in line with the flash data published on August 14.

The rebound was largely attributed to a 2.1 percent growth in exports of goods, especially in the industry. Investments and government consumption also contributed positively to growth.

Considering other demand components, government consumption grew by 1.2 percent, while household consumption declined by 1.0 percent. Investments rose 0.6 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, as estimated.

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