The Netherlands is out of recession

Friday 13 November 2009

The Dutch economy grew by 0.4% in the third quarter of this year, compared with the previous quarter, meaning the country is now out of recession.

The new figures from the national statistics office CBS show the first period of economic growth in a year. On an annual basis, however, the economy contracted by 3.7%. 'According to normal definitions, the Netherlands is now out of recession,' the CBS said.

Exports are still lower than a year ago but the decline is smaller than in the second half, the CBS said.

© DutchNews.nl

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