The Dutch economy is out of recession – just (update)

The Dutch economy managed to creep out of recession and grew by 0.1% in the third quarter of this year compared with Q2, according to new estimates from the national statistics office CBS on Thursday.

The growth is largely due to exports, which rose 2.1%.

But compared with the same quarter in 2012, the economy contracted by 0.6%, investments were down and consumer spending was also down, the CBS said. And the number of jobs in the workforce is 160,000 lower than a year ago, the biggest drop since 1995.

The construction sector was hardest hit with the loss of 31,000 jobs. Childcare and home nursing services were also seriously affected, the CBS said.

Central bank chief Klaas Knot said the marginal growth is encouraging but the jobs market gives cause for concern.

‘The developments on the jobs front are extremely worrying,’ Knot said. ‘We need consistency in economic policy … to give this limited recovery a firm basis.’

Finance minister Jeroen Dijsselbloem told reporters in Brussels the situation is encouraging but it is still very early days. ‘We are emerging from a deep dip and there is no reason to be too optimistic,’ the minister is quoted as saying by news agency ANP.

Thank you for donating to

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