Sunday 12 July 2020

Dutch economy grows in second quarter as Germany contracts

The Dutch economy grew by 0.5% in the second quarter of 2018, compared with the first three months of the year, the national statistics office CBS said on Wednesday.

The growth comes as unemployment fell to record lows and consumer spending also rose. In Germany, the Netherlands biggest trading partner, the economy contracted 0.1% in the second quarter.

The tight jobs market and higher wages led to a 1.7% rise in consumer spending quarter on quarter. Companies also invested more – 5.3% – in the second quarter.

The government’s macro-economic think tank CPB will publish its new forecast for the Dutch economy on Thursday. In June it forecast growth of 1.5% this year.

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