They mainly spent more on services such as accommodation and food services, recreation, culture, transport and communication. In 2022 (adjusted for price changes), consumers spent 6.6 percent more than in 2021 an historically large increase. More spent on recreation, culture, transport and accommodation and food services GDP, labour productivity and hours worked Jaar Labour productivity, calculated here as real gross domestic product (GDP) per hour worked, increased much less rapidly. The growth in 2022 was largely due to a higher number of hours worked (+3.8 percent). Long-term economic growth is mainly achieved through more productive workers (higher labour productivity). The economy can grow if more hours are worked and/or workers are more productive. The population aged 15 to 74 years in paid work reached an unprecedented size in 2022. Wages did not rise as fast as inflation, but households worked many more hours 441 thousand new jobs were added last year. Over half of the economic growth in 2022 was contributed by households and their inclination to buy.Ĭonsumers had enough income to spend on goods and services despite higher prices. Economic growth primarily due to more hours worked and higher consumption Nevertheless, households continued to spend more than ever before (adjusted for price changes). At the end of February, Russia invaded Ukraine, which also disrupted the Dutch economy. The last few measures to combat coronavirus were abolished in March 2022. This is reported by Statistics Netherlands (CBS) in an annual review of the economy for the year 2022. Both inflation and household consumption hit record levels. Such growth over two consecutive years had not yet been recorded this century. The Dutch economy grew by 4.5 percent in 2022, after growing by 4.9 percent in 2021.
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