The Dutch economy expanded unexpectedly in the second quarter, mainly supported by exports, data from Statistics Netherlands showed Tuesday.
The gross domestic product rose 0.2 percent quarter-on-quarter in the second quarter, against expectations for a 0.3 percent contraction.
The GDP rose for a second consecutive quarter after exiting a technical recession in the first quarter of this year. The first quarter growth rate was revised down to 0.2 percent from 0.3 percent reported initially.
Annually, GDP fell 0.5 percent following 0.8 percent drop in the previous three months. The latest decline in GDP was the third in a row.
On an annual basis, exports grew 3.6 percent. Consumer spending fell 1.3 percent and investment dropped 3.2 percent.
During the period, construction output shrank 9.3 percent compared to the same period last year.
by RTT Staff Writer
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