Dutch economy is worst performer in EU
14 July 2005, AMSTERDAM — The Netherlands has the worst performing economy of all 25 countries in the European Union.
14 July 2005
AMSTERDAM — The Netherlands has the worst performing economy of all 25 countries in the European Union.
The European statistics agency Eurostat reported on Thursday that economic prosperity in the Netherlands dropped by 0.5 percent in the first quarter when compared with a year earlier.
Only Italy and Malta came close to this poor result with 0.2 percent and 0.1 percent drops respectively.
The union as a whole registered economic growth of 1.4 percent when compared with the year earlier. Compared to the preceding quarter, the EU's economy grew by 0.5 percent
This is yet again lower than the US and Japan which saw their economies grow by 0.9 percent and 1.2 percent respectively.
The European economy in the first three months appears to have been mainly influenced by a 0.2 percent higher consumer spending compared with the previous quarter. At the same time investment fell by 0.2 percent and exports by 0.7 percent.
[Copyright Expatica News + ANP 2005]
Subject: Dutch news