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GDP growth rate in Netherlands 0.4 percent in Q2 2019

Christian Fernsby |
According to the second estimate conducted by Statistics Netherlands (CBS), gross domestic product (GDP) showed 0.4 percent growth in Q2 2019 relative to Q1 2019.

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The second GDP estimate is published 90 days after the end of each quarter.

The growth rate has been adjusted downwards.

In the first estimate, which was published on 14 August, the growth rate was 0.5 percent.

Compared to the first estimate, the trade balance in particular has been revised downwards.

Growth in Q2 2019 was mainly related to household consumption and investments in fixed assets.

The second estimate is conducted 90 days after the end of each quarter.

The first estimate, which is calculated 45 days after the end of the quarter, is based on the most recent data available at that moment.

After the first estimate, more new information about the state of the Dutch economy keeps pouring in, e.g.

data on the sectors construction, business services, accommodation and food services, the public sector, the care sector and the financial sector.

These data are subsequently incorporated into new calculations.

In absolute terms, the adjustment of the second estimate relative to the first estimate has averaged nearly 0.1 percentage point over the past half decade, with the two extremes ranging between - 0.1 and + 0.3 percentage points.

Quarter-on-quarter growth adjustment With each new estimate, CBS also recalculates the seasonally adjusted series of previously published quarters.

As a result, the quarter-on-quarter growth in Q1 2019 has also been adjusted from 0.5 to 0.4 percent.

Year-on-year, the GDP growth rate in Q2 was 1.8 percent.

This was 2.0 percent in the first estimate.

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