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  • The Dutch economy took its biggest-ever hit from the global coronavirus pandemic as lockdowns brought activity in the country to a standstill, data showed on Friday. The EU's fifth-biggest economy shrank by 8.5 percent in the period from April to June compared with the preceding three months, the central statistics office CBS said. "Never before has such a shrinkage been measured," CBS said in a statement. More than half of the contraction was due to a sharp fall in household consumption, the statisticians explained. But falling investment and a sharp decline in the trade balance also played a role. The Dutch government has taken measures to cushion the impact of the coronavirus pandemic with almost three million people receiving income support. jhe/spm
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  • Netherlands economy sees unprecedented drop due to coronavirus
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