May 16, 2017 / 8:40 AM / 4 months ago

Dutch economy grew 0.4 percent Q/Q in first quarter: Statistics Netherlands

The Hague (Reuters) - The Dutch economy grew 0.4 percent in the first quarter of 2017 compared with the previous three months, Statistics Netherlands (CBS) said on Tuesday, marking the 12th straight quarter of expansion albeit at a slower pace.

The CBS said first-quarter growth was “broadly supported by more exports, more investment and more consumption,” with the construction and business services sectors growing strongly.

Economists surveyed by Reuters had forecast gross domestic product (GDP) growth at 0.5 percent in the quarter ended March 31, slowing slightly from 0.6 percent in the fourth quarter of 2016.

GDP grew by 3.4 percent from the same period a year earlier, following 2.5 percent growth year-on-year in the fourth quarter of 2016. Corrected for two extra working days in the first quarter of 2017, GDP growth would have been 2.8 percent year on year, the CBS said.

Reporting by Toby Sterling; Editing by Hugh Lawson

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