Dutch economy to contract further next year – central bank

The Netherlands’ central bank, De Nederlandsche Bank, is forecasting a -0.6% contraction in the local economy next year, with unemployment up and the government failing to meet eurozone deficit targets.

Unemployment will hit 6.2%, while the budget deficits will run through 2013 and 2014.

The country’s economy will suffer because of a fall in consumer spending and investment, coupled with ongoing problems in key export markets elsewhere in the eurozone.

The Dutch government said the central bank’s forecast was less optimistic than the 0.75% growth rate predicted by economists at consultant CPB, which are used by the cabinet.

Click here to view the central bank’s latest forecast (in Dutch): http://www.dnb.nl/binaries/408060_DX0_EOV-12-12_WEB_tcm46-282358.pdf

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