The Dutch economy in the second quarter by 0.5 grown%. The growth is mainly due to the export
.
This was reported by the Central Bureau of Statistics (CBS) this morning (see Annex).
Export
The growth is in line with expectations. The three major Dutch banks were counting on growth rates between 0.3% and 0.5%. According to CBS, the positive growth especially on the export to thank. That is a boost for the Dutch export was the last time is not very strong.
The export has two good quarters behind, according to the figures. In the first quarter, exports grew by 2.7% compared with a year earlier. In the second quarter, export growth was 2.9%.
The investments also increased, but less than in the first three months of this year. When the increase in investments was 5.1% compared to the previous year. In the last quarter of the increase in investment was only 1.1%. According to CBS infrastructure investments. Downsized especially
Crisis
With this growth, the economy has still not fully recovered from the blow of the crisis. The gross domestic product is 2.6% lower than in the first quarter of 2008, so there is still need the necessary growth before the loss of the crisis years is fully recovered.
Surprised
Rabobank had counted exactly a growth of 0.5%. Yet Rabo economist Tim Legierse surprised by the underlying figures: “The manufacturing industry and exports have done better than we had expected based on the available monthly figures. Household consumption was just slightly weaker than we had anticipated. “
The recovery in the second quarter consists largely of a correction of the gas by the mild winter in the first quarter was disappointing. “Underlying this recovery is therefore less strong,” says Legierse. He points out that the average quarterly growth was only 0.2% in the past four quarters. “That’s not very exuberant but growth. But growth is still not strong enough to bring an end to the contraction of employment. “
The sanctions Russia is now much uncertainty about the future development of the economy. “We expect further growth in the second half of the year,” said Rabobank economist Legierse. “Of course the uncertainty caused by the Russian sanctions against those expectations. The direct impact on the economy as a whole is likely to be very limited, but it is difficult to assess to what extent the uncertainty surrounding the situation in Ukraine and in the Middle East will undermine. “
Even better first quarter
The CBS has the growth of the economy in the first quarter adjusted slightly. Earlier, CBS thought the economy had shrunk by 0.6% now comes from CBS to a contraction of 0.4% in the first quarter.
initially estimated the CBS shrink even 1.4%. Especially the mild winter threw a spanner in the works: The Netherlands produced and therefore consumed significantly less natural gas. The damage turned out out to be thanks to a new method in which gas lighter counted, and a better picture of the performance of the business services and hospitality.
Other Jobs
The number vacancies increased slightly in the second quarter, there were 4,000 more than the previous quarter. With this, the number of vacancies for the fourth consecutive quarter. In total, there were open in late June. 108,000 jobs
An increase in the number of vacancies, however, does not lead to an immediate drop in unemployment. For some jobs it can often be difficult to find a suitable candidate. Short term Also, recruiting and selecting a new employee have the necessary throughput.
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