Dutch economy climbs out of recession: more spent on clothing and holidays | Economy

After three ‘shrinkage quarters’ in a row, the size of the Dutch economy increased slightly again last quarter. The revival is mainly due to higher consumption by households.

According to Statistics Netherlands (CBS), the economy grew by 0.3 percent in the fourth quarter of last year compared to the previous quarter. Household spending increased by 1.8 percent. More was spent on clothing, days out and holidays, for example. Less was spent on food.

In 2023, the Dutch economy will ultimately have grown by 0.1 percent. This means that annual growth has clearly weakened compared to previous years. In 2021 and 2022 there was an increase of 6.2 and 4.3 percent. At the time, the economy was still recovering significantly from the corona crisis.