The Netherlands' economy expanded as initially estimated in the fourth quarter after remaining flat in the previous quarter, largely led by household and government consumption, the latest data from the Central Bureau of Statistics showed on Friday.
Gross domestic product advanced 0.6 percent sequentially in the December quarter, after showing no variationas in the third quarter, which was a 0.2 percent decline in the flash report published on February 14.
Growth in the fourth quarter was broad-based, with household and government consumption making the largest contributions, the agency said.
On the expenditure-side, household consumption grew 1.2 percent, and government consumption was 1.3 percent higher compared to the third quarter.
On a yearly basis, GDP growth eased to 3.2 percent in the fourth quarter from 3.4 percent in the third quarter. In the initial estimate, the rate of growth was 3.0 percent.
In 2022, the economy expanded 4.5 percent compared to a 4.9 percent growth in 2021, mainly due to higher household consumption.
Economic News