The Dutch economy shrank for the second straight quarter in the three months ended June, though at a slightly slower pace than initially estimated, the latest data from the Central Bureau of Statistics showed on Friday.
Gross domestic product fell 0.2 percent sequentially in the second quarter, following a 0.4 percent decline in the previous quarter. The rate of decline was 0.3 percent in the flash report published on August 16.
It was the second successive quarterly contraction, and the country entered a technical recession.
The contraction in the second quarter can mainly be attributed to a decline in the trade balance and household consumption, the agency said.
Household final expenditure decreased 1.6 percent from the first quarter, while government expenditure rose by 0.8 percent.
Exports of goods and services dropped 0.5 percent, and imports slid by 1.0 percent due to weaker inflows of services.
On a yearly basis, GDP dropped 0.2 percent in the June quarter, reversing a 1.9 percent expansion in the March quarter. Further, this was the first annual contraction since the second quarter of 2021.
