Dutch Q1 GDP contracts more than estimated
2013-06-25 10:59:42
Dutch recession in the first quarter of 2013 was more severe than previously estimated, revised figures from Statistics Netherlands showed Tuesday.
The seasonal and calendar adjusted gross domestic product fell 0.4 percent quarter-on-quarter in the first quarter compared with the preliminary estimate of a 0.1 percent fall.
The GDP was down 0.6 percent in the fourth quarter of 2012. Output has been falling almost steadily since the second quarter of 2011.
The economy contracted 1.8 percent year-on-year in the first quarter of 2013, while the initial estimate showed a 1.7 percent shrinkage. In the previous quarter, GDP recorded a year-on-year decline of 1.5 percent.