The Dutch economy is growing

By: Together Abroad 13-05-2015 2:31 PM
Categories: Business news,

Due to higher investments, exports and more consumption contribution, the Dutch economy grew in the first quarter of 2015 by 0.4% compared to the previous one.

Based on primary calculations, Centraal Bureau voor de Statistiek (CBS) reported that the Dutch economy is growing on a quarterly basis for the fourth time.

The economy is recovering even though this quarter growth is lower than the final quarter of 2014. Economist also forecasted a lower growth, which was also slightly weaker than predicted (0.5%). However, in comparison with the first quarter of 2014, the Dutch economy grew by 2.4% and the unemployment rate fell by 2,000 people.

Investments
Investments made in the past three months were mainly in housing, as well as transportation for both goods and people. Companies have finally started to invest more in equipment, telecommunications and software. Moreover, manufacturers in the industry are positive about their future endeavours.

Consumption
Petroleum, natural gas, transport equipment, machinery were the top cause of the economic growth. In addition to this quarter, consumers’ reticence seems to be finally over. There was an increase in furniture and electronic appliances purchases, as well as a revenue growth in the hospitality industry.

On another note, Minister Henk Kamp of Economic Affairs wants to use this growth by reducing cost to give space for entrepreneurship.



By: Marguerite Hodge

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