Dutch economy enters recession
The Dutch economy has entered a recession as it shrank 0.3 percent on a quarterly basis in the second quarter, a first estimate published by Statistics Netherlands on Wednesday showed.
The Dutch economy has entered a recession as it shrank 0.3 percent on a quarterly basis in the second quarter, a first estimate published by Statistics Netherlands on Wednesday showed.
The euro zone's fifth largest economy shrank for the second consecutive quarter, after a 0.4 percent contraction in the first three months of the year.
For all latest news, follow The Daily Star's Google News channel. Economic growth in the Netherlands had been almost 5 percent per year in 2021 and 2022 in a quick recovery from a Covid-19 slump.
The first recession since the pandemic was driven by a drop in consumer spending and exports, as surging inflation drove up food prices and energy bills in the Netherlands and its trading partners.