Thursday 07 July 2022

Dutch economy stagnates

The Dutch economy stagnated in the second quarter of 2011 with growth of just 0.1%, according to figures released on Tuesday by the central statistics agency.


However, the figures were better than for the year earlier period, showing growth of 1.5%. But consumer spending remained at the same low level.
Economic affairs minister Maxime Verhagen told news agency ANP the figures are not a surprise. ‘The turmoil on the financial markets is having an effect, as is low growth in our neighbouring countries,’ he said.
Consumers are spending more on sustainable products and services, but they are spending less on food and entertainment. They are also using less gas because of the relatively mild weather, says the CBS.

Thank you for donating to DutchNews.nl

The DutchNews.nl team would like to thank all the generous readers who have made a donation in recent weeks. Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments.

DutchNews.nl has been free for 14 years, but without the financial backing of our readers, we would not be able to provide you with fair and accurate news and features about all things Dutch. Your contributions make this possible.

If you have not yet made a donation, but would like to, you can do so via Ideal, credit card or Paypal.