The Dutch [economy][1] contracted more than initially estimated in the first quarter, revised data from the Central Bureau of Statistics showed on Thursday.
Gross domestic product declined 0.8 percent sequentially, bigger than the -0.5 percent estimated on May 18. GDP had remained flat in the fourth quarter of 2020.
The expenditure-side breakdown of GDP showed that household spending decreased 3.5 percent and government expenditure was down 2 percent. At the same time, gross investment in fixed assets advanced 3 percent.
Import of goods and services gained 0.8 percent and exports of goods and services grew 1.1 percent.
On a yearly basis, GDP contracted 2.4 percent annually, after falling 2.9 percent in the fourth quarter. The decline for the first quarter was revised from -2.8 percent.
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