Highest growth in seven years

14th November 2007, Comments 0 comments

Third quarter growth was up 4.1 percent on growth in the same quarter last year.

13 November 2007

VOORBURG – The Dutch economy grew 4.1 percent in the third quarter, compared to a year earlier. This is the highest growth in more than seven years, Statistics Netherlands (CBS) announced on Tuesday.

The substantially higher natural gas production was largely responsible for the boost.

The economy grew 1.8 percent in comparison to the second quarter. This is the highest quarter on quarter growth in more than 10 years. Exports rose by 7.5 percent compared to the third quarter in 2006. The increase can in part be attributed to higher gas exports.

Higher natural gas production was connected with the cooler summer this year. In other sectors production growth was in line with the preceding quarter. In construction, wholesale and the employment sector production was higher than average.

Households spent 2.4 percent more in the third quarter, compared to the same period last year. Besides gas, more expenditure also went to durable consumer goods like cars, furniture, clothing, and electronics. Government spending rose by 4.2 percent, mainly as a result of rapidly growing healthcare expenditure.

Investments rose 4.2 percent compared to last year. Just as in previous periods, investments in computers, company cars and company buildings showed strong growth.

[Copyright Expatica News + ANP 2007]

Subject: Dutch news

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