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The Netherlands is out of recessionFriday 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 officially 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 in a statement. 'It's nice to be able to signal the recovery but we still can't hang out the flags,' CBS economist Michiel Vergeer told news agency ANP. Consumers are still reluctant to make major purchases in particular, he said. 'They are keeping their hands on their cash,' Vergeer said. Exports The recovery is still very fragile, Vergeer said, and almost entirely depends on improvements in the export market. Exports are still lower than a year ago but the decline is smaller than in the second half. The finance ministry said the news showed that government efforts to combat the recession are working. 'The effect of the stimulus package is now visible,' a spokesman told the Financieele Dagblad. New figures from the European Union statistics office Eurostat on Friday show that the eurozone as a whole is also out of the recession. © DutchNews.nl
When the recession has finally ended, it will no longer be a news item, nor discussed. By stevie | November 16, 2009 7:25 PM Its good the government as announced the end of recession but can they be specific by indicating the time people will begin to see the effect, like more jobs and so on? I think people will be more interested in this than anything. By ola abdul | December 19, 2009 7:00 PM
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The first thing what our government has to do is: please help the half of our population which is facing worst effects of this recession. Extra ordinary measures needs to be taken to tackle the 'increasing poverty'in our society a.s.a.p. Especially helping the jobless (young and old equally).Small Medium Entrepreneurs should be helped which may result more jobs and sustainable economic progress.
By Khalid Ahmed Chaudry | November 14, 2009 7:37 PM