Growth The Dutch economy stabilizes at its lowest level in two years Now

Economic growth in the Netherlands was considerably lower in the third quarter. Compared to the previous quarter, the economy grew by 0.2% between the beginning of July and the end of September. This is the weakest quarterly growth recorded in the last two years.

This is indicated Wednesday by the figures from the Central Bureau of Statistics (CBS). In the second quarter, this figure rose to 0.7%.

Peter Hein van Mulligen, chief economist at Statistics Netherlands, notes that the Dutch economy has experienced strong growth for several consecutive quarters. "It is not surprising that there is less than a quarter of the time." Compared to the same quarter of the previous year, the economy grew by 2.4%.

This decrease is mainly due to lower construction costs. For example, investments in homes and infrastructure have been lower. Van Mulligen explains that construction has caught up considerably since the crisis. Substantial growth figures have been recorded since then. Now, growth seems to be returning to pre-crisis levels.

Consumer spending has already increased eighteen quarters in a row

Consumers spent more than 2% more in the third quarter than in the same quarter of the previous year. Consumers spent more than eighteen consecutive quarters more than a year ago

"The consumer spent more for electronics, but also for transportation." Van Mulligen, for example, says that the numbers reflect the popularity of private leasing.

"And the consumer has also given more to the restaurant industry, which is the case all year, as well as the sunny weather of the summer this year, where is find these numbers, will certainly have contributed. "

Tension of the labor market to its level before the crisis

Employment has further increased, making the job market as tense as it is. ten years ago, just before the crisis.

At the end of September, 262,000 vacancies were open, an increase of 11,000 compared to three months earlier. 60,000 new jobs were added and the number of unemployed decreased by 6,000.

"You see this shortage in various places and the number of permanent contracts is increasing," Van Mulligen said. In the third quarter, the number of permanent contracts increased by about 140,000. Van Mulligen also sees wages increase.

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