GDP growth rate remains 0.5 percent in Q1 2019

The growth rate is the same as in the first estimate, which was published on 14 May. Growth in Q1 2019 was mainly due to increased investments in fixed assets. The trade balance made a negative contribution to the growth of GDP.

Second estimate

The second estimate is conducted 90 days after the end of the quarter. The first estimate, which is calculated 45 days after the end of the quarter, is based on the most recent data available at that moment. After the first estimate, more new information about the state of the Dutch economy keeps pouring in, e.g. data about the sectors construction business services, hotels and restaurants, government care and the financial sector. These data are subsequently incorporated into new calculations.

In absolute terms, the adjustment of the second estimate relative to the first estimate has averaged nearly 0.1 percentage point over the past half decade, with the two extremes ranging between - 0.1 and + 0.3 percentage points.

Quarter-on-quarter growth adjustment

With each new estimate, CBS also recalculates the seasonally adjusted series of previously published quarters. As a result, the quarter-on-quarter growth in Q3 2018 has been adjusted from 0.1 to 0.2 percent. Quarter-on-quarter growth in the other quarters has not been adjusted.

Growth relative to Q1 2018

Year-on-year, the GDP growth rate in Q1 was 1.7 percent. In the first estimate, the growth rate was also 1.7 percent.

Annual figures

Simultaneously with the publication of the second estimate over Q1 2019, revised annual figures over 2017 (final) and 2018 (provisional) are published. On the basis of the most recent data, the economic growth rate for 2018 (provisionally) was adjusted from 2.7 to 2.6 percent. The growth rate for 2017 has not been adjusted and remains at 2.9 percent.

56 thousand new jobs

The second estimate shows that the number of employee and self-employed jobs increased by 56 thousand in Q1 2019 compared to Q4 2018. The first estimate suggested an increase of 53 thousand jobs.

In Q1 2019, the second estimate suggested a growth of 226 thousand employee and self-employed jobs compared to the same quarter in 2018, versus 230 thousand according to the first estimate.
Job figures are adjusted when additional information becomes available.