Gross domestic product (GDP) increased in the fourth quarter in the same numbers as did in the previous quarters of 2019. Senior economist at ABN Amro, Nico Klene, shares the Dutch data.
“Gross domestic product (GDP) advanced in the fourth quarter – according to provisional figures – by 0.4% compared to the previous quarter (qoq). That was the same increase as in the preceding three quarters of 2019. Fourth-quarter growth was virtually entirely attributable to domestic spending. Average growth for full-year 2019 came to 1.7% (2.6% in 2018).”
“We expect growth to be lower in the first quarter of this year. Investment will probably fall back at the start of this year after the strong increase at the end of 2019.”
“Due to the catch-up effect in the subsequent quarters, the coronavirus is only expected to have a very limited impact on average GDP growth in 2020.”