Nervous consumer drags down Dutch economy

The Netherlands’ economy shrank by 1.1% in the third quarter of 2012, after growing 0.1% in the second quarter.

The contraction, the latest example of economic distress spreading from Europe’s periphery to its prosperous core, cames as unwelcome news for the two-week-old coalition of Mark Rutte, prime minister, which had already been forced to revise its programme by popular anger over austerity measures.

ESO: Background information: Dutch left and right agree coalition http://www.europeansources.info/record/dutch-left-and-right-agree-coalition/

DutchNews.nl, 15.11.12: Dutch economy contracts over 1%, jobless total rises again http://www.dutchnews.nl/news/archives/2012/11/dutch_economy_contracts_over_1.php

---