The Netherlands’ economy expanded at a faster pace in the final three months of last year, latest data from the Central Bureau of Statistics showed Friday.
Gross domestic product grew 1.0 percent quarter-on-quarter, which was revised up from the 0.9 percent initially estimate released on February 15.
The fourth quarter growth was largely driven by increases in public consumption, investments and the trade balance. The upgrade was mainly due to upwardly revised figures on public consumption, the CBS said.
The third quarter growth was revised to 2.0 percent from 2.1 percent. The contraction in the first quarter was revised to 0.5 percent from 0.8 percent. The year-on-year growth figure was revised to 6.5 percent from the initially estimate of 6.2 percent.
The statistical office attributed the adjustments mainly to upward revisions for the care sector and the balance of taxes and subsidies on products.
The growth for the whole of 2021 was revised up 5.0 percent from 4.8 percent. Revised data also showed that the job creation in the fourth quarter was more than initially estimated.