FX.co ★ Dutch GDP Recovers 0.3% In Q4

The Dutch economy successfully rebounded from its recession in the last quarter, following a surge in household consumption. This information was relayed from the latest preliminary data published by the Central Bureau of Statistics on Wednesday.

In the December quarter, the Gross Domestic Product (GDP) went up by 0.3 percent, a significant turnaround from the previous quarter's 0.3 percent decline. This was the third consecutive quarterly shrinkage.

On the expenditure front, household consumption witnessed growth of 1.8 percent throughout the quarter. This increase was traced back to larger expenditures on durable items, services, and other commodities.

Government consumption grew marginally, by 0.4 percent, while investments in solid assets declined by 2.1 percent. Trade also experienced growth, with both exports and imports of products and services rising by 0.3 percent.

If looked at more broadly, the economy for the entire year of 2023 expanded by 0.1 percent when compared with the previous year 2022.

By December, the year-over-year growth in household consumption fell to 0.3 percent, a drop from November's 0.6 percent. The data indicated consumers spent more on services but less on goods during this period.

Lastly, Dutch exports decreased by 1.6 percent in December compared to the same period in the previous year. This rate was less severe than the 5.4 percent drop seen in November and marks the seventh consecutive monthly deterioration.