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Dutch economy grew 0.9% in Q4 amid surging COVID-19 cases -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A group of people walks past bars and restaurants in Amsterdam on October 14, 2020. REUTERS/Piroschka van de Wouw/File Photo

AMSTERDAM (Reuters – The Dutch economy grew 0.9% quarterly in the fourth year of 2013, official data shows. However, a rise in coronavirus infected bars, restaurants, and stores closed shops towards the end.

Over the entire 2021 period, the fifth-largest economy in the euro area grew 4.8%. This made up the astonishing decline of 3.8% last year when tight lockdowns hampered production and demande.

Last year’s growth was driven mainly by consumer spending boom. The country gradually opened from April to Oct, and then the Delta variant began to threaten to overflow hospitals with COVID-19.

Coronavirus restrictions led to a 0.1% drop in consumer spending over the third quarter of 2021, but business investment increased by almost 3%.

Restaurants and bars were allowed to reopen earlier in the year under tight conditions. Last week, the government stated that it plans to lift all coronavirus restrictions by end of month.

CPB in September stated that the Dutch economy will grow by 3.5% this fiscal year.

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