Sunday, May 17, 2009

Economy Shrinks 4.5% in First Quarter

According to estimates by the Central Bureau of Statistics (CBS) the Dutch economy shrank in the first quarter of 2009 by 4.5% compared to the same period of 2008. This is the greatest decline on record since the Second World War. Compared to the last quarter of 2008 the decline was 2.8%, the greatest quarter on quarter decline the CBS can recall.

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