The Dutch economy grew by 0.6% in the fourth quarter compared to the third quarter. This is evident from data from Statistics Netherlands. In the third quarter, GDP still decreased by 0.2 percent, but due to the slight growth in the fourth quarter, there can be no question of a recession.
In total, the Dutch economy will grow by 4.5% in 2022. This growth is mainly due to the increase in the trade balance and household consumption. The latter increased in the fourth quarter of 2022 by 0.9 percent compared to the third quarter.
Adjusted for price changes, consumers spent more primarily on services such as culture and recreation, food, transportation and communications. Government consumption grew by 0.4%. Investments in fixed assets increased by 0.5% in the fourth quarter. Investments in housing, buildings and infrastructure increased in particular.
Better than the neighbors
With economic growth of 0.6 percent, we are doing better than our neighbors. In France and Belgium the economy grew by 0.1%. In Germany there was even talk of an economic contraction. In the EU’s largest economy, GDP contracted by 0.2%. Average growth in the EU was 0%. The size of the UK economy also remained the same, while that of the US grew by 0.7%.
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
