Netherlands Q1 GDP Falls More Than Estimated

The Dutch economy contracted more than initially estimated in the first quarter, revised data from the Central Bureau of Statistics showed on Thursday.

Gross domestic product declined 0.8 percent sequentially, bigger than the -0.5 percent estimated on May 18. GDP had remained flat in the fourth quarter of 2020.

The expenditure-side breakdown of GDP showed that household spending decreased 3.5 percent and government expenditure was down 2 percent. At the same time, gross investment in fixed assets advanced 3 percent.

Import of goods and services gained 0.8 percent and exports of goods and services grew 1.1 percent.

On a yearly basis, GDP contracted 2.4 percent annually, after falling 2.9 percent in the fourth quarter. The decline for the first quarter was revised from -2.8 percent.

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