The Netherlands climbs out of recession
The Netherlands is officially no longer in recession. In the first quarter of 2012, the Dutch economy grew by 0.3 percent, according to Statistics Netherlands CBS. Six weeks ago, CBS expected the economy to shrink by 0.2 percent in the first quarter of this year, when compared to figures for 2011. In the second estimate, the CBS adjusted its expectation up by 0.5 percent.
According to CBS, the Dutch government spent more money, particularly on public administration. Also household spending shrunk by less than predicted in the initial estimate. The estimates for investments and exports have been lowered, when compared to the expectations six weeks ago.
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