The declines in manufacturing production did not continue and consumer confidence recovered, although only slightly. In the first quarter of this year household consumption maintained the high growth rates of 1998, with durable goods, which are the most relevant category for the Dutch economy, selling particularly well. Consumers' confidence in the developments of the Dutch economy in May was at about the same level as in April.
Unemployment continues to fall.
The trend of the GDP is an indicator for the economic growth. The new figure indicates that the growth rate of the Dutch economy declined slightly. In the three preceding quarters the growth rate declined, but the level stayed relatively high. This increase was slightly higher than in the previous quarter, but is just under the yearly average for 1998 as a whole. Statistics Netherlands recently published revised macro-totals.