Dutch economy still growing steadily
The Dutch economy grew by 0.5 percent in the first quarter of 2019, the same growth as in the last quarter of 2018, Statistics Netherlands reported on Tuesday. Compared to the first quarter of 2018, the economy grew by 1.7 percent.
Adjusted for the number of days - the first quarter of 2019 had one day less than the first quarter of 2018 - economic growth amounted to 1.9 percent. In the first quarter of last year, the economic growth stood at 2.2 percent compared to a year earlier.
Economic growth in the first quarter of this year can be attributed to investment and consumer spending, according to the stats office. 4.5 percent more was invested in homes, buildings, infrastructure and machines. Consumers also spent more in the first quarter than a year earlier. That means that consumer spending has been increasing for 20 quarters in a row.
Consumers mainly spent more on home furnishings electrical appliances and services. Spending on cars and gas, thanks to the mild weather in the first months of 2019, decreased.