Dutch exports supported by lower Euro

Export volume increased by 1% q-o-q in the second quarter, more or less in line with growth in the first quarter. Export growth is expected to continue in the rest of this year, being supported by the low value of the euro against other major currencies and by higher growth in the euro area. Export growth will be restrained somewhat by the lower growth in emerging markets, caused by the fall in commodity prices and a slowdown of the Chinese economy. 

Growth in the manufacturing sector disappointed somewhat in Q2. Nevertheless, sentiment indicators are still pointing to further growth in the rest of this year. For example, the Purchasing Managers' Index came out at 56 in August, only slightly lower than in July.