FX.co ★ Dutch Economy Shrinks More Than Estimated

The Dutch?economy?contracted more than initially estimated in the third quarter, the latest data from the Central Bureau of Statistics showed on Friday.

Gross domestic product fell 0.3 percent sequentially in the September quarter, following a 0.4 percent decline in the previous quarter. In the initial report, the rate of decrease was 0.2 percent.

It was the third successive quarterly contraction, and the country remained in a technical recession.

The contraction in the third quarter can mainly be attributed to a decline in investments in fixed assets and falls in inventory changes and household consumption, the agency said.

Compared to last year, the economy shrank by 0.8 percent in the third quarter, revised from a 0.6 percent decrease estimated initially on November 14.

The annual downward trend was attributed to the export of goods and services, stock changes in natural gas, and consumption by households.