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Recession in Dutch economy
August 23 , 2023
461 days
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- The Dutch (Netherland) economy has entered its first recession since the pandemic.
- Economic growth in the Netherlands had been almost 5% per year in 2021 and 2022.
- Consumer spending fell 1.6%, while exports were 0.7% lower than in the first three months of the year.
- Inflation in the Netherlands has dropped since hitting a peak of 14.5% in September last year.
- But it was still relatively high at around 6% in the second quarter of 2023.
- The gross domestic product decreased 0.3 per cent over the prior three months between April and June.
- The outcome follows the 0.4 per cent corrected decline in the first quarter and is much below the 0.2 per cent growth.
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