Economic growth 0.2 percent in second quarter of 2015

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According to the second estimate of economic growth conducted by Statistics Netherlands (CBS), the Dutch economy grew 0.2 percent in Q2 2015 relative to Q1 2015. The first estimate, published on 14 August, anticipated a growth rate of 0.1 percent. The overall picture of the economy has not changed. Growth is widely supported: investments, consumption and exports all contributed to economic growth.

Investment in fixed capital formation was revised upwards. New supplementary data regarding the construction sector suggest that investments in non-residential property are higher than initially estimated. The same applies to investments in software.

First estimate

The first estimate - 45 days after the end of each quarter - is solely based on information available at the time. After the publication of the first estimate, new information about the state of the Dutch economy is continually pouring in. In absolute terms, the adjustment of the second estimate relative to the first estimate averaged 0.1 percentage points over the past half decade. The two extremes ranged between –0.3 and +0.4 percentage points.

Results earlier quarters not adjusted

When a new estimate is published, CBS also calculates the seasonally adjusted series of quarters already published. Growth figures for the previous three quarters have not been revised though.

Growth relative to Q2 2014

Compared to one year previously, the economic growth rate over Q1 was 1.8 percent, versus 1.6 percent according to the first estimate.

Number of jobs increased by 29 thousand

The second estimate shows that the number of employee jobs and self-employed jobs was 29 thousand higher than in Q1 2015. In the first estimate, the number of jobs increased by 19 thousand. Employment figures were revised on the basis of additional data.

According to the second estimate, the number of employee jobs and self-employed jobs grew by 93 thousand in Q2 2015 compared to the same quarter in 2014, as against 80 thousand according to the first estimate.