FOREX TradingCharts.com

Financial News: Dutch GDP Logs Biggest Fall Since 2009

Dutch GDP Logs Biggest Fall Since 2009

05/15/2020 - 08:13:00 (RTTNews)

(RTTNews) - The Dutch economy contracted at the fastest pace since 2009 mainly due to a record fall in household consumption amid coronavirus, or Covid-19, pandemic, data from the Central Bureau of Statistics showed Friday.

Gross domestic product fell 1.7 percent sequentially in the first quarter, this was the biggest decline since the first quarter of 2009, when it was down 3.6 percent.

Nonetheless, the 1.7 percent fall in the first quarter was much smaller than the economists' forecast of -3 percent. In the fourth quarter of 2019, GDP was up 0.4 percent.

The fall in GDP suggested that the economic impact of the coronavirus was mild, at least in international comparison, Marcel Klok, an ING economist said.

"The "intelligent lockdown" as it has been dubbed by PM Rutte has paid off economically thus far, although the second quarter is likely to be much worse," Klok added.

The expenditure-side showed that household consumption fell 2.7 percent, marking the largest decrease since the series began in 1987. Government spending dropped 1.4 percent.

Investment slid 1.1 percent. At the same time, exports and imports fell 3 percent and 3.5 percent, respectively.

The statistical office said the global outbreak of coronavirus and related measures to contain its spread have caused an unprecedented decline in economic activity.

On a yearly basis, GDP was down 0.5 percent versus a 1.6 percent rise in the fourth quarter of 2019. This was the first contraction since the second quarter of 2013.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Czech Economic Sentiment Rebounds Modestly (02 hr(s), 42 min(s), 14 sec(s) ago)
(RTTNews) - The Czech Republic's economic sentiment improved slightly in May, after a historic ...Full Story»

Belgium Business Confidence Recovers Slightly In May (03 hr(s), 05 min(s), 14 sec(s) ago)
(RTTNews) - Belgium business confidence slightly recovered in May led by a modest improvement in s ...Full Story»

German Ifo Business Confidence Improves In May (04 hr(s), 33 min(s), 14 sec(s) ago)
(RTTNews) - Germany's business confidence improved in May driven by modest expectations of an ...Full Story»

Amended: German Ifo Business Confidence Improves More Than Expected (05 hr(s), 04 min(s), 14 sec(s) ago)
(RTTNews) - Corrects the first sentence in the third paragraph to reflect the fall in the current ...Full Story»

Spain Producer Prices Log Record Fall (05 hr(s), 11 min(s), 14 sec(s) ago)
(RTTNews) - Spain's producer prices declined at the fastest pace on record in May, driven by a ...Full Story»

Taiwan Industrial Production Output Growth Eases (05 hr(s), 50 min(s), 14 sec(s) ago)
(RTTNews) - Taiwan's industrial production growth eased notably in April, data from the Minist ...Full Story»

Hong Kong Exports Decline Slows In April (07 hr(s), 18 min(s), 14 sec(s) ago)
(RTTNews) - Hong Kong's merchandise exports decreased at a slower pace in April, as the demand ...Full Story»

German Ifo Business Confidence Improves More Than Expected (08 hr(s), 48 min(s), 14 sec(s) ago)
(RTTNews) - Germany's business confidence improved slightly more than expected in May, as Euro ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Czech Economic Sentiment Rebounds Modestly

05/25/2020 - 10:42 AM (RTTNews)
(RTTNews) - The Czech Republic's economic sentiment improved slightly in May, after a historic ...Full Story>>

Belgium Business Confidence Recovers Slightly In May

05/25/2020 - 10:19 AM (RTTNews)
(RTTNews) - Belgium business confidence slightly recovered in May led by a modest improvement in s ...Full Story>>

German Ifo Business Confidence Improves In May

05/25/2020 - 08:51 AM (RTTNews)
(RTTNews) - Germany's business confidence improved in May driven by modest expectations of an ...Full Story>>

Amended: German Ifo Business Confidence Improves More Than Expected

05/25/2020 - 08:20 AM (RTTNews)
(RTTNews) - Corrects the first sentence in the third paragraph to reflect the fall in the current ...Full Story>>

Spain Producer Prices Log Record Fall

05/25/2020 - 08:13 AM (RTTNews)
(RTTNews) - Spain's producer prices declined at the fastest pace on record in May, driven by a ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.