A preliminary estimate published by Statistic Netherlands, the Dutch statistics office, on Friday shows that the Dutch economy in the second quarter grew by 2.1 percent compared to the same period last year. Compared to the previous quarter the increase is 0.9 percent.

Exports remain the driving force behind the economic recovery. The volume of exported goods and services was 12 percent higher compared to the second quarter of last year. The figure includes exports of Dutch products as wells as goods from other countries. In particular foreign demand for products from the chemical industry and the metal and electro technical industries was substantially higher.

However, Statistics Netherlands notes that consumer spending remains weak. Dutch households spent 0.7 percent more in the second quarter compared to the same period last year, but the increase is the result of higher natural gas consumption due to cold weather and the purchase of more new cars.

Industrial output increased substantially across the board. Production grew by more than 8 percent in the second quarter. Trade and transport benefited from the increase and grew by 7 and 6 percent respectively.
The statistics office also reports a partial recovery of investments.

Although investments were down by 5 percent compared to the second quarter of last year, the overall picture was less negative than in the previous quarter. Investments in machinery and transport showed a turn-around and were up compared to last year. Investments in computers also continued to grow.

The second quarter also showed a cautious recovery of the labour market. After corrections for seasonal fluctuations, the total number of jobs was 17,000 higher than a year before. The increase represents a 0.2 percent growth after five quarters of shrinkage.

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