The Dutch economy contracted a further 0.2% in the second quarter of 2013, meaning the Netherlands has now been in recession for a full year, the national statistics office CBS said on Wednesday.
Economists had widely predicted that the economy would shrink further, making further government spending cuts likely.
At the same time, the economies of France and Germany have both grown, prompting further criticism of the Dutch government’s new austerity measures.
At 11.00 hours, the government’s CPB planning agency is due to publish its preliminary economic forecasts for the rest of the year and 2014. In June, the CPB said the economy would contract by 1% in 2013 but grow by 1% next year.
More to follow
Thank you for donating to DutchNews.nl.
We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.Make a donation