The Dutch economy in the second quarter of 2015 with 0.1 percent grown compared with the previous quarter, CBS reported. The growth rate is based on an initial calculation using the data currently available. Exports, investment and consumption of families make a positive contribution. The sharp fall in natural gas extraction down the growth rate, however. The Dutch government turned the gas valve partially closed to reduce the risk of earthquakes in Groningen. This allows the export of gas declined, while imports of gas rose.
Press Release CBS
That gaseffect does not detract from the positive underlying economic picture which CBS reported a few weeks ago. The economy is almost back to the level before the crisis that erupted in the second half of 2008.
Economy grows by 1.6 percent from the year before
According to preliminary calculations, the Dutch economy in the second quarter 1.6 percent larger than in the second quarter of 2014. This growth is attributable to an increase in exports , increased investment and more consumption by consumers. The shift from natural gas to gas imports by the restriction imposed on the natural gas production pushed the economic growth in the second quarter of 2015 with ongevee r 0.5 percentage points.
performed more petroleum products and transport equipment, but much less natural gas
The exports of Dutch products grew in the second quarter almost as strong as re-exports (exports of previously imported products). Our country exported considerably more petroleum products and transport equipment than in the second quarter of 2014. The gas export shrank by contrast considerably. Netherlands exported addition to goods, more services.
Imports of goods and services grew faster than exports. Netherlands instance performed considerably more gas. The balance of exports and imports contributed partly because negatively to growth.
more invested in housing and transport
In the second quarter is considerably more invested in housing than in the second quarter of 2014. Investments in transport are a lot higher. Especially on trucks, trailers and the like of greater spending.
Companies and institutions have invested in plant and machinery, telecommunications and software. Producers in the industry are positive about future production. The occupancy rate of the industry was beginning the third quarter to the highest level since the outbreak of the crisis in late 2008. Entrepreneurs are at the beginning of the third quarter also more positive than the previous quarter.
Consumer especially to spend more on home furnishings and electrical appliances
Consumers have spent more again in the second quarter than a year earlier. That is in line with the slight improvement in employment, which CBS message today, and the recovery in the housing market. Also, consumer confidence improved in the second quarter and rose further in June to the highest level in almost eight years.
Consumers spent more on furniture and electrical appliances. In the second quarter there are more homes changed owners than a year earlier. Also, households consumed gas again more than a year earlier and gave them more on food. Finally, consumers spent more on services like house rent, traveling by public transport, visiting restaurant or hairdresser, and insurance. Spending on services make more than half of the total domestic consumer spending.
Strong shrinkage mining, high growth construction
The production of mining and quarrying declined sharply. The production of the agricultural sector as well, especially horticulture, and the government shrank. The other sectors produced more than a year earlier.
It was the strongest increase in output in the construction and business services. Construction output grew mainly through attracting the housing market. Within business services do particularly well the staffing industry. That is also reflected in the employment figures Statistics Netherlands publishes today the number of temporary workers increased again considerably
first result
The first calculation is,. 45 days after the end of a quarter, published on the basis of the information available. This CBS gives a first impression of the state of the Dutch economy. After this initial calculation is continuously more information on the Dutch economy, which is then processed into new calculations. The second calculation of economic growth makes CBS announced on Wednesday September 23 . The absolute adjustment of the second calculation in relation to the first calculation was the last five-year average 0.1 percentage points . The two extremes were -0.3 e n +0.4 percentage points. With each new calculation CBS determines the new seasonally adjusted figures published earlier quarters. The recalculation does not result in adjustments to the previous four quarters
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