Dutch economy grows for ninth consecutive quarter

The Dutch economy increased for the ninth consecutive quarter, the Dutch Central Bureau of Statistics CBS announced on Friday.

According to preliminary calculations by the CBS, the economy grew by 0.6 percent in the second quarter of 2016, compared to the previous quarter. The growth is mainly caused by higher investments, consumption and exports.

Compared to the second quarter of 2015, the growth percentage was 2.3. The second quarter of 2016 had two more working days than the second quarter of 2015. Corrected by this difference the growth was 1.8 percent.

The calculation published on Friday, 45 days after the end of a quarter, will be followed by a second calculation of first quarter figures on September 23, based on new information. Over the last five years the difference between the first and second calculation was on average 0.1 percentage points.

Earlier this week, the Netherlands Bureau for Economic Policy Analysis (CPB) issued its forecast for this year and next year. The Dutch economy is, according to the CPB, projected to grow by 1.7 percent this year and next year the growth rate will be 1.6 percent, which is lower than the 2.1 percent the bureau had projected for 2017 in June this year.

According to the CPB, the underlying recovery of the economy is progressing, but the uncertainty following the Brexit referendum, in the short term, will have negative effects. In addition to the impact of the Brexit, the further reduction in Dutch natural gas production will also temper next year's growth. Enditem