The Dutch economy grew 4.2 percent in the third quarter of 2007 relative to one year previously. According to the latest figures published by Statistics Netherlands, the second estimate of the economic growth turned out to be 0.1 percentage points higher than the first estimate made on 13 November.
Economic growth in the third quarter was the highest in more than seven years. Natural gas production in particular boosted Dutch economy. Output of commercial service providers and the construction sector also grew above average. Exports, investments and household consumption improved relative to the first six months of 2007.
Marginal upward adjustment: The upward adjustment by 0.1 percent is the result of a few minor changes. Investments and exports of Dutch products turned out to be higher, consumption lower. In agriculture and commercial services, output marginally increased, in the sector care output was somewhat below the level of the first estimate.
Highest quarter-on-quarter growth in more than a decade: The economy improved 1.8 percent in the third quarter compared to the second quarter. This is the same as shown in the first estimate. Quarter-onquarter growth is distinctly higher than in the preceding quarters and indeed turns out to be the highest in more than a decade.
Accelerated growth in exports, consumption and investments: In the third quarter, exports improved more than in the first six months, due to exports of Dutch products.Dutch consumers bought more durable goods like clothes, consumer electronics and home furnishings. Expenditure for care grew faster and stimulated government consumption. Lastly, investments (machinery and equipment, buildings and computers) grew across the board.
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