The Dutch economy grew slightly in the first three months of this year


Our country’s economy nevertheless grew in the first three months of this year compared to the last quarter of 2021, according to a new estimate from the CBS statistical office. An earlier estimate still showed stagnation. The growth now recorded is mainly due to additional household consumption

Due to the end of the corona lockdown at the end of January, more money went to the catering sector, the culture and leisure sector and the gymnasiums in the first quarter. In the end, these expenses turned out to be higher than expected. Moreover, public expenditure fell less sharply compared to the previous estimate.

Compared to the same period last year, the Dutch economy grew by 6.7%. It was 7 percent in an earlier estimate. The strong growth is partly due to the corona measures. For example, there was still a hard lockdown throughout the first quarter of 2021.

The downward revision is mainly due to strong growth in imports of goods and services, while export growth was slightly lower. As a result, the contribution of trade to growth was lower than in the first calculation.

In addition, 109,000 new jobs were created in the first quarter compared to the end of 2021. It was 127,000 in the previous estimate. On an annual basis, this concerns 537,000 jobs, compared to 518,000 previously declared.

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