Domestic Demand in Netherlands
Netherlands - Domestic Demand
Q2 GDP growth revised up slightly in second estimate
A second GDP estimate for the second quarter of this year, released on 21 September, showed that the economy expanded 0.8% quarter-on-quarter. The result, which was chiefly thanks to upward revisions to private consumption and fixed investment growth, was slightly above the preliminary estimate of 0.7%. Year-on-year growth in the second quarter was also revised upwards from 2.9% to 3.1%.
Although private consumption growth was revised upward from a flat reading to 0.3% quarter-on-quarter, the figure was still markedly down from the 1.4% expansion in the first quarter. Fixed investment growth also received an upward revision from 0.7% to 1.1%; (Q1: +2.6% quarter-on-quarter). On the other hand, growth in government consumption was revised downward from 0.2% to 0.1% (Q1: +0.4% qoq).
On the external front, export growth was revised up to 1.3% from the preliminary estimate of 0.9% (Q1: -0.5% qoq) with both goods and services exports rebounding markedly from contractions in the previous quarter. Simultaneously, imports expanded 0.3% in Q2, after the preliminary estimate of a 0.1% contraction (Q1: +0.4% qoq).
Looking ahead, the Dutch economy is likely to continue growing at a robust pace in the second half of this year and next year, driven by solid domestic demand. However, the contribution of net exports is expected to moderate on higher oil prices and slower world trade. Moreover, Brexit-related uncertainty and a possible escalation in trade tensions between the U.S. and the EU remain significant downside risks.
The government expects the economy to grow 2.8% in 2018 and 2.6% in 2019. Met the why particular Consensus Forecast panelists are slightly less optimistic and see GDP growing 2.7% in 2018, which is unchanged from last month’s projection. For 2019, the panel expects the economy to expand 2.1%, which is also unchanged from last month.
Netherlands - Domestic Demand Data
|Domestic Demand (annual variation in %)||-1.4||0.9||3.4||1.8||2.3|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||0.11||5.70 %||Dec 11|
|Exchange Rate||1.13||0.65 %||Dec 11|
|Stock Market||501||-0.57 %||Dec 11|
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December 3, 2018
The manufacturing Purchasing Managers’ Index (PMI), produced by NEVI and IHS Markit, dropped from 57.1 in October to 56.1 in November.
November 29, 2018
Business confidence among manufacturers increased from 5.9 in October to 7.2 in November, moving further above the crucial zero-point mark that separates optimism from pessimism.
November 21, 2018
Consumer sentiment slipped again in November for the fourth consecutive month, dropping from 15 in October to 13.
November 1, 2018
The manufacturing Purchasing Managers’ Index (PMI), produced by NEVI and IHS Markit, moderated from 59.8 in September to 57.1 in October.
October 30, 2018
Business confidence in the manufacturing sector edged up for the first time in five months in October, with the headline figure increasing to 5.9 from 5.7 in September.