Netherlands Nosedives into Recession: Q2 sees 0.3% economic contraction

Posted on August 18, 2023   |  

The Netherlands entered a recession due to a drop in exports and household spending.

Statistics Netherlands reveals a 0.3% economic contraction in Q2, following a 0.4% decline in Q1.

The Dutch economy, which rebounded strongly post-COVID, is now facing challenges.

Unlike neighbors France and Belgium, Germany's economy remains stagnant.

Rising interest rates aimed at curbing inflation contribute to the economic downturn.

Former global trade leader Netherlands confronts tough economic times.