The Dutch economy grew by 0.4 percent in the third quarter of 2019, compared to the previous quarter, the Central Bureau of Statistics in the Netherlands (CBS) revealed on Thursday in their first estimate of the quarter, Trend reports citing Xinhua.
Compared with the same quarter last year, the growth was 1.9 percent, mainly due to higher investments in fixed assets and household consumption, CBS said in a report.
Consumer spending went up by 1.6 percent in Q3 2019 relative to the same quarter last year. "Consumers spent more on services like accommodation and food services, transport and communication, on electrical appliances, home furnishing articles, beverages and tobacco," the CBS report said. "However, consumer spending on passenger cars went down."
Exports growth lowered but not imports. "As a result, the trade balance, the net exports, had a negative contribution to economic growth," the CBS said.