Dutch economy doing slightly better

The Dutch economy performed slightly better in the third quarter than expected, according to a second estimate by Statistics Netherlands.

The economic growth rate in the Netherlands over the third quarter of 2013 was 0.2 percent relative to the second quarter. When the first estimate was published on 14 November, the economic growth rate was calculated at 0.1 percent. Quarter-on-quarter developments were adjusted for calendar and seasonal effects.

The economy contracted 0.4 percent in the third quarter relative to the same period last year ((0.6 percent according to the first estimate). Exports of goods and services and government consumption were adjusted upwards. Imports of services, household consumption and investments were adjusted downwards. The third quarter of 2013 had one extra working day compared to 2012.

In the third quarter of 2013, the number of employee jobs was 160 thousand down from the same quarter of 2012, a decrease by 2.0 percent. The first estimate also calculated a 2.0 percent loss of jobs. After correction for seasonal variation, the number of jobs was 47 thousand below the level of the second quarter of 2013, i.e. a decline by 0.6 percent. According to the first estimate, 46 thousand jobs were lost.

In the third quarter of 2013, wages per labour year were 1.9 percent higher than in the same quarter one year previously.

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