Netherlands’ economy dropped more than the initial estimate in the first quarter, according to Bloomberg Business Week.
The Dutch economy shrank faster in the last quarter of 2012 than previously thought. This follows from the second estimate of the CBS, which was distributed on Thursday. According to the estimate, the economy shrank by 0.4 percent. The first estimate in mid-February, on the other hand, showed a shrinking of 0.2 percent.
The shrinkage was 1.2 percent compared to a year earlier. In the first estimate, this was still at 0.9 percent. Consumer expenditure was lower and authorities spent less money than expected.