Negative Dutch GDP growth in 4Q means record decline in 2020
Dutch GDP was 0.1% lower in 4Q20 than in the preceding quarter. In autumn, social distancing policies were tightened as the number of new Covid-19 cases rose and the Netherlands returned to a lockdown in mid-December, with school and retail closures and a curfew since 23 January 2021. What particularly contributed to the decline in GDP was household consumption at -1.4% quarter-on-quarter. This decline was much less profound than what we saw in 2Q20 (-11.3%), in part because online sales went through the roof. Government consumption came down by only 0.1%, staying 2% above the level seen...
Source: menafn.com