Wednesday, April 1, 2009

Major Bank: Dutch Economy Will Shrink More than Forecast

The Rabobank, a major Dutch bank, has forecast a 4% shrinkage of the Dutch economy in 2009. This is even worse than the lowest forecast of the Central Planning Bureau, which is 3.5%. The Rabobank expects unemployment to increase to more than 6% at the end of 2009 and to almost 9% by the end of 2010.

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