Netherlands falls into recession after second consecutive quarterly slump
Image Credit: FPJ
The Dutch economy has entered a recession, experiencing a 0.3% contraction in Q2 2023. In the previous quarter, the country experienced a 0.4% decline. This downturn, the first of its kind since the pandemic, is primarily driven by a decrease in consumer spending and exports. Inflation has affected the Netherlands and its trading partners, as they have been grappling with higher food prices and energy bills. In May this year, Germany also entered a recession.