The Netherlands: More economic contraction on the cards – ABN Amro

The Dutch economy slowed down by 1.7% QoQ in the first quarter of 2020 – more or less as economists at ABN Amro had expected. 

Key quotes

“Based on highly provisional figures, Dutch gross domestic product (GDP) shrank by 1.7% on a QoQ basis. This drop was mainly attributable to the decline in consumption and exports.”

“The second quarter will be much worse, since it took until 11 May for a number of restrictive measures to be relaxed, with more restrictions scheduled to be lifted in June. This will likely be followed by further gradual easing in the third quarter.”