Dutch GDP rises three years in a row, Q1 growth hit 0.4%

Building on both offices and homes in Amsterdam’s Zuidas district. Photo: DutchNews.nl

The Netherlands’ Gross Domestic Product, the most accurate measure of the economy, rose by 0.4% in the first three months of the year compared with the final quarter of  2016, the national statistics office CBS said on Friday.

This second assessment of GDP growth, which is always published 90 days after the first, was unchanged over the previous announcement. The CBS said the growth was largely attributable to investments. The first assessment is made 45 days after the close of a quarter and is based on information then available.

GDP has now registered growth for 12 consecutive quarters. First-quarter 2017 GDP was 3.2% higher year-on-year, slightly lower than the 3.4% increase projected in the first announcement by the CBS.

Adjusted figures for full-year 2015 were also published on Friday, and revealed economic growth of 2.3% compared with the original 2.0%. Economic growth in 2016 remains at 2.2%, the CBS added.

Job numbers increased by 53,000 in the first quarter of the current year compared with the last three months of 2016. The figure was put at a gain of 56,000 in the first CBS assessment of the period.

But the number of those in employment in the first quarter of 2017 rose by 166,000 year-on-year. The first estimate was 171,000 new jobs.

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