Dutch GDP Contracts 0.2% in Q2
Netherlands' economy contracted 0.2 percent in the second quarter of 2013 compared to the previous quarter, following a first-quarter contraction of 0.4 percent. Weak domestic demand and low levels of investment continued to drag down the economy.
8/14/2013 8:59:59 AM
In the second quarter, households' spending on goods and services fell 2.4 percent and has been shrinking for more than two years. Consumption by the government shrank 0.5 percent and total investment was down by 9.4 percent from a year earlier. It is the sixth successive quarter of contraction.
In the second quarter of 2013, there were less 147 thousand jobs than a year earlier. This is a decrease of 1.9 percent, the biggest decline since the start of the series in 1995.
On an annual basis, GDP fell 1.8 percent in the second quarter after a 1.8 percent contraction in the first quarter.