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

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 CEST

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
10:33a MARSHALLS : Shares Bolstered After Brushing Off Brexit Blows
10:32a CITY MERCHANTS HIGH YIELD TRUST : Director/PDMR Shareholding
10:31aDJECB : July Loans to Firms +1.9% vs +1.7% in June
10:30a UBS : trimming headcount in Paris by 15 jobs -source
10:30a HITACHI HIGH TECHNOLOGIES : do Brasil to Acquire Alltech Steel do Brasil
10:30a NEW VALUE : BlueTalon Raises USD16 Million in Series A Financing
10:30a Celebrity Austin Mahone Promotes Friendable
10:29a CONCURRENT TECHNOLOGIES : Interim Results for the six months ended 30 June 2016
10:29a JOURNEY : Form 8.5 (EPT/RI)
10:29a DEPARTMENT OF FOREIGN AFFAIRS AND TRADE AUSTRALI : Pacific Regional Agreement a step closer
Latest news
Advertisement
Hot News 
6.11%RESTAURANT : to sell or shut 33 sites
0.62%GROWTHPOINT (ASX : GOZ) talks FY16 results and outlook
-0.64%Stocks Steady Ahead of Yellen Speech at Jackson Hole
1.62%VOLKSWAGEN : to spend at least $1.2 billion to compensate U.S. dealers - sources
-0.27%ALLIANZ : Austria's Heta says winding down of assets progressing well
Most Read News
04:15a Lotte Group vice chairman found dead, suicide suspected
08/25 VOLKSWAGEN : to spend at least $1.2 billion to compensate U.S. dealers - sources
08/25 APPLE : fixes security flaw after UAE dissident's iPhone targeted
08/25 GENERAL MOTORS : GM cleared in second U.S. verdict over crash blamed on ignition switch
08/25 ALLIANZ : Austria's Heta says winding down of assets progressing well
Most recommended articles
04:30a UBS : trimming headcount in Paris by 15 jobs -source
04:25aDJStocks Steady Ahead of Yellen Speech at Jackson Hole
04:17aDJLONDON MARKETS : FTSE 100 Slips, But Miners Find Relief After Selloff
04:15a Lotte Group vice chairman found dead, suicide suspected
04:13a Chinese man arrested in Hong Kong over FACC cyber attack in Austria