Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

Netherlands Back in Recession as GDP Shrinks

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/14/2013 | 10:14am CET

By Maarten van Tartwijk

AMSTERDAM--The Netherlands slid back into recession in the fourth quarter, as declines in investments and household consumption led to a second straight quarter of economic contraction, official data showed Thursday.

Output in the Netherlands, the euro zone's fifth-largest economy, contracted by a quarterly 0.2% in the final three months of 2012, data from the national statistics bureau CBS showed. After shrinking by 0.9% in the third quarter, the Netherlands officially entered a recession for the third time since 2009, according to a definition accepted by many economists.

The Netherlands is considered one of the stronger economies in the euro zone, but its performance is lagging other 'core' members of the bloc amid slowing exports and a persistent slump in the housing market. The economic contraction will likely drag on until the second half of 2013, according to several official forecasts.

Falling house prices have caused an erosion of household wealth and this in turn has led to consumers cutting back their spending. Dutch households are among the most indebted in Europe due to their large mortgage debt.

The fourth-quarter contraction was driven by a 5.2% year-on-year drop in investments and a 2.3% decline in household consumption, CBS said. Exports, a key driver of the Dutch economy, grew by 3.2% on the year, it said.

Write to Maarten van Tartwijk at maarten.vantartwijk@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
05:31p INTERSERV INTERNATIONAL : Groups help immigrant community
05:30p MANCHESTER UNITED : Harry Kane leads Tottenham to FA Cup quarterfinals
05:23p ACCENTURE : Why creative agencies need to think like consultants in 2017
05:22pDJPEUGEOT : Theresa May to Meet Peugeot CEO Amid Concerns Over Vauxhall -- Update
05:21p ASTRAZENECA : drug shows promise in battling one type of breast cancer
05:21p TP ICAP : City broking giant TP ICAP mulls changes to £85m ‎share plan
05:16p ALPHABET : Google them
05:15p IDEX : UAE arms show comes as Yemen war, suspicions of Iran linger
05:06p NETFLIX : Angelina Jolie brings her six children to promote latest film in Cambodia
05:06p SAMSUNG ELECTRONICS : Clear cases for the Samsung Galaxy S8 have leaked
Latest news
Advertisement
Hot News 
18.24%Canada's MacDonald Dettwiler to buy DigitalGlobe - Dow Jones
10.74%Kraft Heinz Company (The) Statement Regarding Unilever plc
13.43%Kraft Heinz Company (The) Statement Regarding Unilever plc / Unilever NV
-3.75%GENERAL MILLS : Lowers Sales, Profit Forecast
-8.47%Air Canada expects higher fuel costs to weigh on margins
Most Read News
02/18 PSA chief executive to meet May about Vauxhall takeover
07:44aDJPEUGEOT : Theresa May to Meet Peugeot CEO Amid Concerns Over Vauxhall
02/18 WEST TEXAS RESOURCES : Rambelles nip rival West Texas A&M
02:23a ANOTHER BREXIT DOWNSIDE : foreign giants in power grabs for famous British names
02/18 WAL MART STORES : Peeps flavored Oreos are upon us. Can the end of the world be far behind?
Most recommended articles
11:22aDJPEUGEOT : Theresa May to Meet Peugeot CEO Amid Concerns Over Vauxhall -- Update
10:23a Top Vale shareholders plan to end holding company -report
09:55a Ford sees big Russia gamble vindicated as sales finally turn corner
09:29aDJMining Giants Ride Copper's Wave
08:34aDJAdvisers in Kraft's $143 Billion Bid for Unilever Fit Familiar Strategy