The first estimate of Statistics Netherlands' quarterly national accounts puts Dutch economic growth at 2.6 percent in the third quarter of 2006. The increase in gross domestic product (GDP) was realised with one working day fewer than in the same period last year.
The increase in exports and household consumption was slightly smaller this quarter than in the first six months. Fixed capital formation grew further.
Exports are the driving force behind economic growth. Employment also continued to rise. There were 84 thousand more jobs than twelve months previously.
Quarter-on-quarter growth 0.6 percent After correction for working day and seasonal effects, the volume of GDP was 0.6 percent higher in the third quarter than in the second quarter of 2006. This quarter-on-quarter growth is a fraction lower than in the first half of this year.
Exports growing more slowly The volume of exports of goods and services was 6.1 percent larger in the third quarter than twelve months previously. This rise was slightly smaller than in the first half of 2006, but slightly larger than in the whole of 2005.
The slower growth was caused by the exports of Dutch manufactured products. Re-exports are still growing substantially.
Imports grew by slightly more than exports. The increase in imports was not caused by re-exports alone, but to an important extent also by the increase in domestic expenditure and production.
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