Better second quarter than previously estimated – Focus on News

Better second quarter than previously estimated – Focus on News

This has the CBS announced today. When the flash estimate of 14 August, the growth is estimated at 0.5 percent. The upward adjustment of 0.2 percentage points is partly attributable to small upward revisions to household consumption and fixed investment. The picture of the economy is not amended by the second estimate. The growth of the Dutch economy is mainly due to exports.

The flash estimate is a first calculation, 45 days after the end of a quarter, on the basis of the information then available. After this initial estimate is continually more and new information on the Dutch economy. Thus, additional data from companies in business services, construction, hotels and restaurants are made available. This information should contribute to the economic growth in the second estimate comes in higher than the first estimate. The adjustment of the second estimate compared to the flash estimate was for the past five years, an average of 0.06 percentage points. The two extremes were -0.3 and +0.4 percentage points.

Seasonal adjustments
With each new estimate of economic growth calculates the new CBS seasonally adjusted figures for all already published quarters. This quarter-on-quarter changes in previously

published quarters may also be adjusted. For example, the contraction in the first quarter of 2014 was revised from 0.4 to 0.3 percent.

Growth compared to the second quarter of 2013
Ten from a year earlier, the economy grew in the second quarter by 1.1 percent. According to the flash estimate was 0.9 percent. This upward revision is mainly due to household consumption and investment in construction. The trade balance (exports minus imports) is more light downwards. Furthermore lag consumption by the government slightly lower than previously calculated.

Shrink number of jobs smaller than previously published
Based on augmented source information is the information updated about jobs. In the second quarter of 2014 there were, according to the second estimate thousand employee jobs less than in the first quarter of 2014 at the flash estimate, the decline was 8 thousand jobs. Compared to the second quarter of 2013 there were, according to the second estimate 70 thousand employee jobs less. When the flash estimate, the annual 80 thousand jobs shrink.

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