Dutch Economy Plunges into Recession Amidst Inflation and Trade Woes
TL;DR Summary
The Dutch economy has entered a recession as it contracted 0.3% in the second quarter, following a 0.4% contraction in the previous quarter. The recession was driven by a drop in consumer spending and exports, as surging inflation led to higher food prices and energy bills. Consumer spending fell 1.6% and exports were 0.7% lower. Inflation in the Netherlands has decreased but remained relatively high at around 6% in the second quarter.
- Dutch economy enters recession as inflation bites Reuters
- Netherlands Unexpectedly Suffers Recession on Consumers, Trade Bloomberg
- The Dutch economy has slid into recession as inflation and interest rates hit exports and spending The Washington Post
- The Netherlands falls into a technical recession ING Think
- Netherlands Enters Recession, Shrinks 0.3% in Q2 2023 Watcher Guru
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