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Dutch Economy Remains In Recession

The Dutch economy shrank for the third straight quarter in the three months ending September, mainly due to a decline in investments in fixed assets and a fall in inventory changes, preliminary data from the Central Bureau of Statistics showed on Tuesday.

Gross domestic product fell 0.2 percent sequentially in the September quarter, following a 0.4 percent decline in the previous quarter.

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

On the expenditure side, investments in fixed assets declined 1.8 percent over the quarter, partly due to lower investments in means of transport, machines, and buildings.

Data showed that household consumption remained the same, while government consumption increased by 0.6 percent.

Exports of goods and services contracted 1.6 percent, and services fell at a comparatively faster rate of 2.3 percent. As a result, the trade balance contributed positively to the development of the economy in the third quarter.

In September, exports declined 4.8 percent compared to last year, following a 2.7 percent fall a month ago. The downward trend was largely due to fewer shipments of chemical products, foodstuffs and stimulants, electronic machines, and optical equipment.

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