Dutch economy enters recession as inflation bites
Dutch economy enters recession as inflation bites
www.deccanherald.com
Economic growth in the Netherlands had been almost 5 per cent per year in 2021 and 2022 in a quick recovery from a Covid-19 slump.
The Dutch economy has entered a recession as it shrank 0.3 per cent on a quarterly basis in the second quarter, a first estimate published by Statistics Netherlands on Wednesday showed.
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The euro zone's fifth largest economy shrank for the second consecutive quarter, after a 0.4 per cent contraction in the first three months of the year. Economic growth in the Netherlands had been almost 5 per cent per year in 2021 and 2022 in a qui...
Consumer spending fell 1.6 per cent, while exports were 0.7 per cent lower than in the first three months of the year. Inflation in the Netherlands has dropped since hitting a peak of 14.5 per cent in September last year, but was still relatively high at around 6 per cent in the second quarter of 2023.
