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Dutch economy grows 2.6% in second quarter despite soaring inflation

AMSTERDAM, Aug 17 (Reuters) - Economic growth in the Netherlands surprisingly jumped to 2.6% in the second quarter compared with the previous three months, as household spending boomed despite soaring inflation and companies increased their investments. The strong expansion confounded expectations among economists that growth would remain at roughly the same 0.5% pace seen in the first quarter of 2022. The pick-up in April-June left the euro zone's fifth-largest economy 5.3% bigger than in the same period a year before. Growth was spurred by a 7% increase in household consumption relative to the second quarter of 2021, when spending was still constrained by COVID-19 lockdown measures, even though inflation rocketed to around 9%. Investments were 5% higher than a year before, while exports increased almost 6%, official data showed. (Reporting by Bart Meijer; Editing by Catherine Evans) ((Bart.Meijer@thomsonreuters.com; +31 20 504 5006; Reuters Messaging: bart.meijer@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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