"According to the first estimates by the Dutch central statistical office, the gross domestic product fell by 0.3% in the second quarter of 2023 compared to the previous quarter. In the first quarter, the GDP decreased by 0.4%," the agency noted.
The main causes of the recession are falling volumes of exports and a reduction in household consumption, the office stated, adding that exports of goods and services had contracted by 0.7% in April-June quarter-on-quarter, with consumption decreasing by 1.6%.