Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Netherlands Back in Recession as GDP Shrinks

02/14/2013 | 05:14am US/Eastern

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

Latest news
Date Title
<1m ago AIRBUS : Western Power Distribution Selects Airbus Helicopters’ EC135 P2
<1m ago DEPARTMENT OF INDUSTRY OF CANADA : Readout of the Meeting between Industry Minister James Moore and U.S. Secretary of Commerce Penny Pritzker
<1m ago LINCOLN ELECTRIC : Hosts Book Signing by Hot Rod Fabricator Bryan Fuller at SEMA Show
<1m ago MIDLANDS MINERALS : announces further high-grade silver intercepts at Parlozi Phase 1 drilling completed
<1m ago MK AZOVSTAL' PAT : Metinvest announces 3Q and 9M 2014 operational results
<1m ago MARIUPOL'S'KYI MK IM ILLICHA VAT : Metinvest announces 3Q and 9M 2014 operational results
<1m ago CIT : Business Aircraft Finance Announces Key Appointments
<1m ago AMERIHEALTH NEW JERSEY : Debuts New Website
<1m ago Kids, Adults Who Sport the Best ‘Fred DuVal Look’ This Halloween Will Get Real Treat
<1m ago Optimizely Selects Welocalize as Localization Partner
Latest news
Advertisement
Hot News 
CERAGON NETWORKS : Reports Third Quarter 2014 Financial Results
PAREXEL : Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K)
NISKA GAS STORAGE PARTNERS : Announces Second Quarter Results for Fiscal 2015, Declares Quarterly Distribution and Provides Update on Current Business Environment and Outlook
ACCURAY : misses Street 1Q forecasts
OMEROS : Omidria(TM) Granted Pass-Through Reimbursement Status from CMS
Most Read News
4h ago WORLD WRESTLING ENTERTAINMENT : WWE :® Reports 2014 Third Quarter Results
1d ago MEDASSETS : tops Street 3Q forecasts
1d ago GENERAL MOTORS' : Trademark Application for "GOODWRENCH" Filed
8h ago Volkswagen profit jumps on record Audi, Porsche sales
4h ago Lufthansa shares drop after 2015 profit guidance cut for second time
Most recommended articles
5m agoDJNurse Defies Ebola Quarantine in Maine
6m ago Expectations for first rate hike should roughly stay the same - S&P Dow Jones Indices
15m ago US Dollar Forecast to Rally Further, but Why Have Risks Grown?
15m ago EUR/USD 1.2700 is Resistance Now
15m ago GBP/USD Rally Rejected at Trendline
Dynamic quotes  
ON
| OFF