Recession is officially over in the Netherlands

Published: 13 November 2009 15:19 | Changed: 13 November 2009 16:49

RNW

Figures published by Dutch statistics bureau show that the Dutch economy has grown by 0.4 percent over the third quarter of 2009, the first sign of growth after a year of stagnation.

The government's statistics office is emphasising, however, that this is a minor recovery, due mainly to increased exports.

The bureau explains that while exports are up, consumers remain reluctant to spend on major purchases. Investments fell, and public expenditure went up.

Despite the upward trend, the number of jobs fell by 140,000 year-on-year, with temp jobs showing the greatest fall. These factors make the recovery vulnerable, a spokesperson for the office said.

The economies of neighbouring Germany and of France also grew in the past quarter, by 0.7 and 0.3 percent respectively. For the German and French economies it was the second growth quarter in a row.

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