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
03:43p VALLEY NATIONAL BANCORP : Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K)
03:43p GULF SHORES RESOURCES : IIROC Trading Halt - GUL
03:42p FORBES : Arctic Development Can Help Ensure National And Energy Security
03:42p TÜSIAD TURKISH INDUSTRIALISTS' AND BUSINESS : Defending the Democratic Constitutional Order in Turkey
03:42p TÜSIAD TURKISH INDUSTRIALISTS' AND BUSINESS : 18 July 2016 TÜSİAD Press Release
03:42p MULTI FINELINE ELECTRONIX : MFLEX Announces Completion Of Acquisition By Suzhou Dongshan Precision Manufacturing Co., Ltd. Jul 27, 2016
03:42p AVIVAGEN : and UNAHCO, Inc. Announce Registration Of OxC-beta™ Livestock in the Republic of the Philippines
03:42p WELSH GOVERNMENT : £3.5m boost for Swansea Valley community wind project
03:42p IGEM INSTITUTION OF GAS ENGINEERS AND MANAGE : MP urges UK landlords to install CO alarms into rented accommodation
03:42p ISSUE OF EQUITY PUBLISHED : Jul 27, 2016
Latest news
Advertisement
Hot News 
6.96%LVMH : How LVMH Thrives on Selling Frenchness to Americans
7.04%FORTESCUE METALS : Output Costs Fall Further, Nears Balance Sheet Goals
8.68%RIGHTMOVE : says property transactions fell ahead of EU vote
7.21%PEUGEOT : Profit Lifted by Cost Cuts
-2.76%BASF SE : Profit Retreats on Lower Oil, Gas Prices
Most Read News
07/26 AUSTRALIA POST AUSTRALIAN POSTAL : invests in Newcastle eCommerce
07/26 Wall St. mixed, Apple impresses and Twitter disappoints
04:45a Santander's Brazilian bounce offsets profit hit from one-offs, Brexit
Most recommended articles
09:41a EU stress tests to show scale of Italy's banking woes
09:41aDJCorrection to Altria Earnings Article
09:40a Britain's mid-cap index recoups post-Brexit losses
09:32a Wall Street opens higher on Apple earnings, Fed eyed
09:25aDJBOOZ ALLEN HAMILTON : Buoyed by Backlog