Dutch economy continues to grow surprisingly strong: 'Demand for our industry remains high'

The CBS revised the GDP growth for Q2 to 0.7%, marking the largest increase in two years. Year-on-year, GDP rose by 2.1%, the highest since late 2022. CBS chief economist Peter Hein van Mulligen noted that initial forecasts predicted growth below 1% for the year, but the average growth rate is now at 1.7%. He emphasized that even if growth stalls in Q4, it would still exceed 1%. Despite global tensions, the Dutch economy remains robust, with strong industrial demand. Households are spending more, driven by rising incomes, despite high inflation. Household consumption and government spending both increased by 0.4%, while exports rose by 0.5%.