Dutch Consumer Spending Lags Way behind Neighbouring Countries
THE HAGUE, 10/09/13 - Consumer spending in the Netherlands has dropped way behind that in neighbouring countries since the outbreak of the economic crisis.
The Central Bureau for Statistics (CBS) has compared the economy of the Netherlands with those of Germany and Belgium. From 2008 through 2012, household consumption dropped by 4.4 percent. In the same period, this grew in Belgium by 3.2 percent and in Germany by 4.3 percent.
The CBS says the reasons are that disposable income in the Netherlands dropped sharply (by 3.8 percent) and consumers' concerns about their financial future increased. The crisis on the housing market has also played a big role.
The tax increases of recent years have only had a limited negative effect on the economy, said CBS-chief economist Pieter Hein van Mulligen at a press conference. "The main culprits for the contraction are falling consumption and the declining corporate investments."