Dutch economy grows again in Q2 but eurozone contracts

The Dutch economy showed quarter on quarter growth of 0.2% in the second three months of this year, the national statistics office CBS said in initial estimates published on Tuesday.


This is higher than the growth recorded by France in the second quarter and slightly below the latest German growth figures.
Compared with the second quarter of 2011, the economy contracted by 0.5%.
Recession
The Dutch economy also grew by 0.2% in the first quarter of this year. Yet despite the light growth, the Netherlands is still in an economic dip, the CBS said.
Exports are up 3.6% on the previous quarter but household spending has gone down for the fourth quarter, and company investments are also down, driven by problems in the construction sector.
Meanwhile, the European statistics agency Eurostat said on Tuesday the economy of the eurozone shrank 0.2% in the three months from April to June, compared with the first quarter.
The contraction followed zero growth in the first three months of the year.

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