Netherlands outpaces other major EU economies in Q3
Nov 15, 2024
The Hague [Netherlands], November 15: The Dutch economy showed a notable recovery in the third quarter (Q3) of 2024, recording a growth rate of 0.8 percent compared to the previous quarter, according to data from Statistics Netherlands (CBS).
Although slightly lower than the 1.1 percent growth in the second quarter, the increase in Dutch gross domestic product remains one of the strongest among major EU economies, driven largely by household and government spending.
Household spending rose by 0.8 percent from the previous quarter, as consumers spent more on clothing, household goods, and energy.
Government expenditures also increased by 0.8 percent, primarily in healthcare and public spending. Investments in fixed assets grew by 0.7 percent, particularly in housing and machinery.
Nearly all sectors recorded growth in the third quarter. The highest gains occurred in the energy sector with a 3.8 percent increase.
By comparison, the overall EU economy grew by 0.3 percent, with France reporting 0.4 percent growth, and Germany and Belgium seeing a 0.2 percent rise respectively, the CBS noted.
Source: Xinhua
