Monday , December 5 2022

The Dutch economy is out of recession

The Dutch economy managed to creep out of recession and grew by 0.1% in the third quarter of this year compared with Q2, according to new estimates from the national statistics office CBS on Thursday.
The growth is largely due to exports, which rose 2.1%.
But compared with the same quarter in 2012, the economy contracted by 0.6%, investments were down and consumer spending was also down, the CBS said. And the number of jobs in the workforce is 160,000 lower than a year ago, the biggest drop since 1995.
The construction sector was hardest hit with the loss of 31,000 jobs. Childcare and home nursing services were also seriously affected, the CBS said.
The Netherlands is trying to get out of the crisis, but the recovery is still fragile. This said Finance Minister Jeroen Dijsselbloem (Finance, Labour) this morning in response to the latest CBS figures. “There is no reason for too much optimism. Still many jobs disappear, domestic spending still are low and public finances are in dire straits. Bringing in order the public finances is needed to get sustainable economic growth.”
Minister of Economic Affairs Kamp (VVD) was cautiously optimistic about the CBS figures. “We have finally come up with a very small plusout of the shrink,” said Camp in a comment for TV.
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