Dutch economy shrank 0.4% in final quarter, revised figures show

The Dutch economy contracted 0.4% in the final quarter of 2012, twice as hard as earlier forecasts, the national statistics office CBS said on Friday.

Year-on-year the economy shrank by 1.2%, not 0.9% as earlier forecast. In particular, local councils and families spent less money than expected, the CBS said.

The economy also contracted in the third quarter, meaning the Dutch economy is now officially in recession.

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