2020.02.1308:50:00UTC+00Dutch GDP Growth Steady At 0.4%

The Dutch economy expanded at a steady pace in the fourth quarter, data from the Central Bureau of Statistics showed on Thursday.

Gross domestic product grew 0.4 percent from the third quarter, when the economy expanded at the same pace. Economists had forecast the rate to slow to 0.3 percent.

The quarterly growth was driven by consumption, investments and trade.

On a yearly basis, GDP growth eased to 1.5 percent from 1.9 percent in the previous quarter. This was below the economists' forecast of 1.7 percent.

In 2019, economic growth eased to a five-year low of 1.7 percent from 2.6 percent in 2018 as trade provided negative contribution.

The expenditure-side breakdown of GDP showed that gross fixed capital formation gained 1.2 percent sequentially in the fourth quarter. Household spending and government expenditure grew 0.7 percent and 0.3 percent, respectively. Exports grew 0.7 percent and imports gained 0.6 percent.

Another report showed that exports growth accelerated notably in December. Exports advanced 4.3 percent on year, following a 1.9 percent rise in November. At the same time, imports climbed 3.6 percent.

In a separate communiqu?, the statistical office said retail sales growth improved to 5.1 percent from 2.8 percent in November. In 2019, retail turnover was up 3.4 percent.