Companies post record second-quarter profits as Dutch economy grows 2.6%

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Dutch companies posted record profits in the second quarter of 2022 and households also had more to spend than a year ago, according to the national statistics agency CBS said Friday.

In total, the industry – excluding the financial sector – generated profits of 75.2 billion euros in the second quarter, an increase of 8.4 billion euros compared to a year ago, the report said. CBS. The agency noted that some businesses still had government coronavirus support.

In particular, energy companies, airlines, travel agencies and recruitment agencies were most likely to make more profits in April, May and June, as the economy reopened from pandemic shutdowns.

Households also had an average of 1% more to spend, as more people were in paid employment and worked longer hours. Wage increases averaged 2.9% over the period.

At the same time, the national mortgage debt increased by 10.6 billion euros to 804 billion euros, due to rising house prices.

The The Dutch economy grew by 2.6% in the second quarter, in line with previous estimates, CBS said.

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