DutchNews.nl - DutchNews.nl brings daily news from The Netherlands in English

23 May 2025
Newsletter Donate Advertise
  • News
  • Life in the Netherlands
  • Jobs
  • Podcast
  • About us
  • Search
  • Home
  • Economy
  • Art and culture
  • Sport
  • Europe
  • Society
  • Environment
  • Health
  • Housing
  • Education
  • News
    • Home
    • Economy
    • Art and culture
    • Sport
    • Europe
    • Society
    • Environment
    • Health
    • Housing
    • Education
  • Life in the Netherlands
    • Latest
    • Opinion
    • Books
    • Travel
    • 10 Questions
    • Learning Dutch
    • Inburgering with DN
    • Food & Drink
    • Ask us anything
  • Jobs
  • Podcast
  • About us
    • Team
    • Donate
    • Advertise
    • Writing for Dutch News
    • Contact us
    • Privacy
    • Newsletter
  • Search

Dutch economy contracts slightly in Q2, NL in light recession

August 16, 2023

The Dutch economy contracted 0.3% in the second quarter of this year, putting the country into a light recession, national statistics agency CBS said on Wednesday.

The quarter on quarter contraction is the second in a row, following on from the 0.4% shrink in the first three months of the year. Two quarterly contractions means the Netherlands is officially in recession.

Economists polled by news agency ANP earlier in the week had said they expected slight growth.

The Netherlands recovered from the pandemic more quickly than its neighbouring countries but has now been overtaken by them, said CBS chief economist Peter Hein van Mulligen.

“In fact, the Dutch economy has hardly grown over the past four quarters, and this quarter fits in with that pattern,” he said. “It is a period of stagnation.”

The contraction is partly down to consumers spending less money which, in itself, is not a surprise, Van Mulligen said. The post coronavirus spending spree is now over, he said, and consumer spending fell 1.6% in the second quarter overall. In June, however, consumer spending was up 1%.

Corporate investments rose, but less was invested in building residential property in particular. Imports grew and exports fell – mainly affecting the chemicals industry.

The situation in the jobs market is largely unchanged and the number of vacancies still far outstrips the number of unemployed. The official jobless rate fell slightly in the second quarter to 3.5%.

Stability

“Stability and predictability are crucial at the moment,” said economic affairs minister Micky Adriaansens in a reaction. “That is why I want to continue to tackle the underlying issues, invest in the long term challenges and see what we can to to deal with unnecessary price rises.”

The cabinet will meet on Friday for the first time since the summer recess.

However, given the cabinet is acting in a caretaker capacity since the government collapse, the September budget will not include any major policy initiatives.

Share this article
  • Facebook
  • Twitter
  • LinkedIn
  • Reddit
  • Copy URL
Economy
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
Latest
Show more
AEX falls as Trump threatens 50% import tariff on European goods
Dutch forensic experts develop deepfake video detector
Zaanstad says yes to tourist tickets for Zaanse Schans windmills
Fewer international child abductions by parents last year
Weekend brings showers and cooler weather, sun still possible
NewsHomeEconomyArt and cultureSportEuropeSocietyEnvironmentHealthHousingEducation
Life in the NetherlandsLatestOpinionBooksTravel10 QuestionsLearning DutchInburgering with DNFood & DrinkAsk us anything
About usTeamDonateAdvertiseWriting for Dutch NewsContact usPrivacyNewsletter
© 2025 DutchNews | Cookie settings

Help us to keep providing you information about coronavirus in the Netherlands.

Many thanks to everyone who has donated to DutchNews.nl in recent days!

We could not provide this service without you. If you have not yet made a contribution, you can do so here.

The DutchNews.nl team

Donate now

Dutchnews Survey

Please help us making DutchNews.nl a better read by taking part in a short survey.

Take part now