Dutch economy shows 0.7 pct. growth in third quarter

The Dutch economy grew by 0.7 percent in the third quarter compared to the second quarter and by 2.4 percent compared to the third quarter in 2015, according to the initial figures by Statistics entherlands. This is the 10th quarter in a row that the Dutch economy showed growth.

Statistics Netherlands mainly attributes the growth to exports and household consumption. Consumers spent more on electronics, restaurants and other forms of entertainment. More foreign tourists also visited the Netherlands. 

Consumers confidence has been positive in the Netherlands for almost two years, but did take a dip in February and March. 

Exports increased in the third quarter, though with slightly less than in the previous quarters. The export of chemicals increased considerably compared to the third quarter fo 2015. More food, base metal products and machinery were also exported. Re-eports grew about twice as much s the exports of Dutch products.

The number of jobs in the Netherlands increased by 26 thousand to 10 million in the third quarter. The number of unemployed decreased by 37 thousand people - the biggest drop in the past decade. The number of vacancies increased by 7 thousand, meaning that the number of unemployed per vacancie is now three, compared to seven at the height of the financial crisis.