Exports lead solid Dutch economic growth

12th November 2004, Comments 0 comments

12 November 2004 , AMSTERDAM — The Dutch economy grew by 1.4 percent in the third quarter of this year compared to the same period in 2003, the highest growth rate in three years, the Central Bureau of Statistics (CBS) said Thursday.

12 November 2004

AMSTERDAM — The Dutch economy grew by 1.4 percent in the third quarter of this year compared to the same period in 2003, the highest growth rate in three years, the Central Bureau of Statistics (CBS) said Thursday.

But the CBS also said in a press release that employment declined slightly in the third quarter in comparison with the two preceding quarters of this year.

A substantial recovery in exports primarily contributed to the growth in Gross Domestic Product (GDP). Household and government consumption showed modest growth while investment was somewhat lower.

Seasonally adjusted, the Dutch economy grew by 0.2 percent in the third quarter of 2004 compared with the second.

The positive growth comes after a period of slightly negative growth in the second quarter. Prior to that, quarter-on-quarter growth had been positive in the three previous quarters.

Exports grew by 8.3 percent in the months July, August and September compared with the same period of 2003. This was the highest growth rate since the end of 2000. Imports increased by 8.4 percent.

Government consumption grew by 0.6 percent. This is substantially lower than growth in previous years. The increase is due to a rise in healthcare spending.

Household consumption was 0.6 percent higher than in the third quarter of 2003, slightly higher than the 0.4 percent of the first two quarters of this year.

[Copyright Expatica News 2004]

Subject: Dutch news

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