Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  News


Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Netherlands Back in Recession as GDP Shrinks

02/14/2013 | 04:14am 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

React to this article
Latest news
Date Title
09:53a ASCIANO : Jackets fall at buzzer in Drago opener
09:37a DP WORLD : SCA signs deal with DP World for Ain Sokhna sea port development
09:32a SAMIR : Egyptian military helicopter crashes due to technical failure
09:26a LEWIS PHP 7HPF 7 1/2% CUM PRF STK #1 : In the land of Scrooge, a soft spot for Christmas ads
09:23a AGC NETWORKS : Sound thinking at heart of Dubai's Smart City philosophy
09:23a Statement by the Prime Minister of Canada on Holodomor Memorial Day
09:17a WESTFIELD : Village at Westfield Topanga gets its first Black Friday, and still has some free parking
08:49a ENERGY TRANSFER PARTNERS : Bakken pipeline hearing questions environmental impact of project
08:41a Prime Minister Announces Funding to Increase Opportunities for Youth In Africa
08:34a MICROSOFT : How to Turn on Windows 10's Find My Device Feature
Latest news
Hot News 
OPPORTUNITY INVEST MGMT : 27 november 2015 - Announcement AGM on 22 december 2015
ATLANTIS RESOURCES : Tidal generating firm announces long partnership for investment by Gordon Calder
CYTOTOOLS : berichtet über Ergebnisse der europäischen klinischen Studie Phase III: Resultate der Behandlung des diabetischen Fußes mit DermaPro(R) bestätigen nicht die Ergebnisse der vorangegangenen Studien (DGAP News)
STOCK SPIRITS : Further Downgrades Earnings Guidance For 2015
IMAGINATION TECHNOLOGIES : Sir Hossein Yassaie receives 2015 Lifetime Achievement Award in annual Elektra European Electronics Industry Award...
Most Read News
11/27 RESEARCH AND MARKETS : Rotavirus Infections Therapeutic Development - Pipeline Review & Analysis, H2 2015
04:51a NIOC NATIONAL IRANIAN OIL : Iran’s Largest Oil Investement Event Opens
03:55a EUROPEAN COMMISSION : Antitrust: new Commission Guidelines on joint selling of olive oil, beef and veal, and arable crops
11/27 RESEARCH AND MARKETS : Acute Renal Failure (ARF) (Acute Kidney Injury) - Pipeline Review & Analysis, H2 2015
07:37a NIOC NATIONAL IRANIAN OIL : Iranian Oil Minister: IPC model Guarantees win-win Conditions
Most recommended articles
05:45aDJWill Black Friday Deals Give a Boost to Car Sales?
02:48aDJBrazil Plans Suit On Dam Breach, Toxins In River
02:48aDJToshiba Mulls Sale Of Chip-Unit Stake
02:47aDJBofA Executive Leaves Firm
12:26a CHINA CHENGTONG DEVELOPMENT : South Africa firms sign $930 million in deals ahead of Xi trip: Xinhua