Dutch economic growth slows down

14th August 2007, Comments 0 comments

14 August 2007, AMSTERDAM (dpa) - The Dutch economy grew by 2.4 percent in the second quarter of 2007 - a 0.2 percent increase compared with the first quarter, and the lowest quarter-on-quarter growth in the past two years.

14 August 2007

AMSTERDAM (dpa) - The Dutch economy grew by 2.4 percent in the second quarter of 2007 - a 0.2 percent increase compared with the first quarter, and the lowest quarter-on-quarter growth in the past two years.

Statistics Netherlands said the gross national product remained similar to that in the previous quarter, but was still significantly lower than in 2006.

Consumption grew by 1.6 compared with the same period last year, relatively low owing to low gas consumption resulting from the warm winter of 2006-07.

Consumers spent more money on durable goods, like clothing, cars and electronics, but investment grew by just 4.8 percent, significantly less than the 9.6 percent of the first quarter.

Investment in machinery, computers and office buildings remained strong, while investments in residential homes grew at a slower pace.

[Copyright dpa 2007]

Subject: Dutch news

0 Comments To This Article