Netherlands enters a technical recession

[Wind_FURY]

A "technical recession" is formally announced when a country's GDP falls for two consecutive quarters. The Dutch GDP fell by -0.4% during the first quarter, followed by another fall of 0.3%, bringing it into a technical recession by the official defintion.

But it's not techncially a recession. It's worse, it's actually Stagflation because inflation is also high sitting at 6.0%. They probably don't want the general public to know what caused the Stagflation and keep blaming it on the "supply side" of things.

https://think.ing.com/snaps/the-netherlands-in-technical-recession/

Another country, Hungary, has also announced to be going through the longest "technical recession".

https://think.ing.com/snaps/longest-technical-recession-on-record-in-hungary/

But like the situation in the Netherlands, Hungary's inflation is very high at 20%. That's true Stagflation - a time when the monetary and economic systems are out of control.

[Dunamisx]

We have to see that Netherland GDP to have been on a dunghill on two consecutive occasions under the circumstance of inflation over two quarters consecutively, there are signals which should have indicated on this coming and yet the government would have taken control measures against recession, we know that almost all part of the world had been affected by inflation this season, but many have managed their way out in avoiding the consequences that could lead to recession, so for now I will possibly admit they are at the brink of recession and if they work against such, it may be averted than then loosing their economy integrity when sunk into recession fully.

[Faisal2202]

I can not agree more with you that now the time is when the economic heroes are shut up. Some time i used to think who are those people who bring the economy of the whole country to this level like back in 20 or 30 years this was not happening like it is now. Maybe i am wrong here. But since i get my consciousness i am evidencing huge jumps in inflation over small period of time.

What's in the world it started is this started when US military left Afghanistan, (i know that's old). Or when Russian war started and BRICS came up somewhere in between and now i just heard there is this mBridge thing to avoid US swift banking system.

Point being made here is, every country is fighting a war not just Russia or Ukraine instead every country is fighting one. We are also in the war with inflation and our country is totally depend on the Dollar because we are under huge debt from many countries but IMF is the one on top of the list. And increasing Interest rates are root problem of all of these things. There must be a balance between these economic situations.

[Gozie51]

.

Point being made here is, every country is fighting a war not just Russia or Ukraine instead every country is fighting one. We are also in the war with inflation and our country is totally depend on the Dollar because we are under huge debt from many countries but IMF is the one on top of the list. And increasing Interest rates are root problem of all of these things. There must be a balance between these economic situations.

The pioneer economic crisis for the world this decade began with COVID-19 pandemic IMO. The economic effect that is going on now has its roots from 2020 when the world almost shut down for the whole year. In fact some countries in Europe stayed back from manufacturing and financial activities. So the world economy is yet to recover from that, the infiltration of wars around only amplified the situation at hand.

[alastantiger]

A "technical recession" is formally announced when a country's GDP falls for two consecutive quarters. The Dutch GDP fell by -0.4% during the first quarter, followed by another fall of 0.3%, bringing it into a technical recession by the official defintion.

But it's not techncially a recession. It's worse, it's actually Stagflation because inflation is also high sitting at 6.0%. They probably don't want the general public to know what caused the Stagflation and keep blaming it on the "supply side" of things.

In this world anything can happen to a country's economy once their leaders get complacent about certain aspects of it. The Netherlands use to have the one of best economies in the world just some years ago but what is currently happening in the country is the law of supply and demand taking its course. They are currently experiencing one of the worst housing crisis, high inflation rate and rising living cost too. There is just a low supply of housing to match its high demand. Furthermore, their citizens are losing their jobs due to automation and the result as we can see is the "technical recession" which is a negative impact on the growth of the economy. We may likely see them recover before the last quarter of 2023.

[Sithara007]

The pioneer economic crisis for the world this decade began with COVID-19 pandemic IMO. The economic effect that is going on now has its roots from 2020 when the world almost shut down for the whole year. In fact some countries in Europe stayed back from manufacturing and financial activities. So the world economy is yet to recover from that, the infiltration of wars around only amplified the situation at hand.

LOL.. this is laughable. First of all, countries such as Netherlands were not that much affected by the COVID pandemic. Most of the population got vaccinated before the Delta wave began. It was third world nations such as India and Brazil that got impacted the most. And these countries have shown robust economic growth during the last few years. So what is wrong with Netherlands? The ongoing Russo-Ukrainian war has played its part, but the rot started long back. Many of the European governments still believe that they are super-rich and splurge money on unnecessary expenses. In the end, they are forced to increase taxes and this negatively affects the economy.

[Cryptomultiplier]

As with much of the world, the Netherlands has been battling high inflation and rising interest rates, brought on in part by the decision to stop purchasing cheap Russian oil and gas after it invaded Ukraine last year.

The Netherlands has followed its neighbor Germany — Europe's biggest economy — into a technical recession while France and Belgium experienced mild growth of 0.5% and 0.2% respectively.

https://www.dw.com/en/netherlands-dips-into-recession-after-strong-covid-rebound/

A lot of the countries in this world today are facing real recession, not just Netherlands. Countries bordering this region too.
 The impact of war or natural disasters or typhoon on a certain country can cripple its economy, but Netherlands is experiencing none of the stated scenario, except that it has been affected by the Russian -Ukraine war in commerce and trade of crude oil, also other exportable products.
Yes, the pandemic era created alot of remote opportunities and Netherlands did well during the period, also with adaption to technology automation and development.
The country will rebound sooner than expected once new trade alternatives can be explored, as it will be for the other countries affected by unprecedented recession.

[Fortify]

A "technical recession" is formally announced when a country's GDP falls for two consecutive quarters. The Dutch GDP fell by -0.4% during the first quarter, followed by another fall of 0.3%, bringing it into a technical recession by the official defintion.

But it's not techncially a recession. It's worse, it's actually Stagflation because inflation is also high sitting at 6.0%. They probably don't want the general public to know what caused the Stagflation and keep blaming it on the "supply side" of things.

https://think.ing.com/snaps/the-netherlands-in-technical-recession/

Another country, Hungary, has also announced to be going through the longest "technical recession".

https://think.ing.com/snaps/longest-technical-recession-on-record-in-hungary/

But like the situation in the Netherlands, Hungary's inflation is very high at 20%. That's true Stagflation - a time when the monetary and economic systems are out of control.

Most countries are bordering on these technical recessions right now, with different quarters dipping in and out. It's maybe more surprising that it has taken so long to reach this point with runaway inflation happening throughout Europe and even the world. The Ukraine war has had a very damaging impact on fuel and food supplies in Europe, but as a richer continent they are probably still fairing great than many other countries. It's nothing to be alarmed about and is fairly mild in the grand scheme of things, as every country goes through this same economic cycle of boom and bust. It's better to accept it than try to constantly fight against it, because recession hits every country on a regular basis.

[jossiel]

First of all, countries such as Netherlands were not that much affected by the COVID pandemic. Most of the population got vaccinated before the Delta wave began. It was third world nations such as India and Brazil that got impacted the most. And these countries have shown robust economic growth during the last few years. So what is wrong with Netherlands? The ongoing Russo-Ukrainian war has played its part, but the rot started long back. Many of the European governments still believe that they are super-rich and splurge money on unnecessary expenses.

This only means that even countries like them that has not be critically hit by covid yet they can't skip the effect of global inflation.

In the end, they are forced to increase taxes and this negatively affects the economy.

But that still helps their country with the services that they give to the people or that's not just enough?

[Majestic-milf]

 This is a bit surprising, considering as their economy seemed to recover quickly from the bite of the coronavirus, experiencing a rapid growth that was faster and stronger than the rest of Europe affected by the pandemic.
The country may be in recession but their labor market is waxing strong, with the rate of unemployment at a record low of 3.6%.
 There are so many factors responsible for this recession and with the war between Russia and Ukraine still ongoing, energy prices have risen sharply as a result.

[STT]

They dont account for inflation properly because it would force up various debt repayment requirements to reflect every price rising and its cost to the countries populations.     If we were so realistic then many countries would have entered recession much more often then realized, its not too surprising to many working people who find problems paying bills while having 2 working adults in the household.    Hundred years ago people had twice the number of kids, half the people employed with an incoming wage yet quite a few faired better then now.  It sure feels like recession to many hence the strike action becoming more common, people are against the wall.

Most famous example I can think of for retrospective revision towards accuracy was the mention that in the 2008 downturn that was not acknowledged till Lehmans in the autumn, actually USA had started a recession the previous year in the summer.   Statistics can be quite stealth in its conclusions.

[Wimex]

A "technical recession" is formally announced when a country's GDP falls for two consecutive quarters. The Dutch GDP fell by -0.4% during the first quarter, followed by another fall of 0.3%, bringing it into a technical recession by the official defintion.

But it's not techncially a recession. It's worse, it's actually Stagflation because inflation is also high sitting at 6.0%. They probably don't want the general public to know what caused the Stagflation and keep blaming it on the "supply side" of things.

https://think.ing.com/snaps/the-netherlands-in-technical-recession/

Another country, Hungary, has also announced to be going through the longest "technical recession".

https://think.ing.com/snaps/longest-technical-recession-on-record-in-hungary/

But like the situation in the Netherlands, Hungary's inflation is very high at 20%. That's true Stagflation - a time when the monetary and economic systems are out of control.

Most countries are bordering on these technical recessions right now, with different quarters dipping in and out. It's maybe more surprising that it has taken so long to reach this point with runaway inflation happening throughout Europe and even the world. The Ukraine war has had a very damaging impact on fuel and food supplies in Europe, but as a richer continent they are probably still fairing great than many other countries. It's nothing to be alarmed about and is fairly mild in the grand scheme of things, as every country goes through this same economic cycle of boom and bust. It's better to accept it than try to constantly fight against it, because recession hits every country on a regular basis.

It is unfortunate how inflation is already invading countries, even the most powerful, such as the United States, a nation that seemed not to go through this type of situation, this wave of decadence and instability is also reaching them. I wonder how much more it will affect this situation to the world, it was predicted that this was going to happen and that the territories would have to experience difficult times, it was never thought that it would be so fast, the currencies are losing stability and the money that is obtained is not enough to cover the basic needs of each citizen, international debts are leading nations to ruin, all because of the bad administration of the country, If only fair and experienced people were in power who did not seek good for themselves but also for the rest of the people, the scenario might have been very different. Now the only thing left is to survive, it will no longer be possible to live comfortably, little by little not even emigrating will be an option to seek a better life, so do not open any nation that is not affected by inflation..... the only thing that could To change this situation would be to seek refuge in technology, digital currencies whose value does not depend on any political event in order to withstand the blow and move forward.

[tread93]

A "technical recession" is formally announced when a country's GDP falls for two consecutive quarters. The Dutch GDP fell by -0.4% during the first quarter, followed by another fall of 0.3%, bringing it into a technical recession by the official defintion.

But it's not techncially a recession. It's worse, it's actually Stagflation because inflation is also high sitting at 6.0%. They probably don't want the general public to know what caused the Stagflation and keep blaming it on the "supply side" of things.

https://think.ing.com/snaps/the-netherlands-in-technical-recession/

Another country, Hungary, has also announced to be going through the longest "technical recession".

https://think.ing.com/snaps/longest-technical-recession-on-record-in-hungary/

But like the situation in the Netherlands, Hungary's inflation is very high at 20%. That's true Stagflation - a time when the monetary and economic systems are out of control.

Fun fact on Hungary, they also don't have a great history with inflation being subject to the most severe hyperinflation ever documented anywhere. The Pengo (1927-1946) lost 90% of its value in half a week for good. This is also why we love all things bitcoin, it's designed to beat inflation! Insurance.

[Wind_FURY]

A "technical recession" is formally announced when a country's GDP falls for two consecutive quarters. The Dutch GDP fell by -0.4% during the first quarter, followed by another fall of 0.3%, bringing it into a technical recession by the official defintion.

But it's not techncially a recession. It's worse, it's actually Stagflation because inflation is also high sitting at 6.0%. They probably don't want the general public to know what caused the Stagflation and keep blaming it on the "supply side" of things.

https://think.ing.com/snaps/the-netherlands-in-technical-recession/

Another country, Hungary, has also announced to be going through the longest "technical recession".

https://think.ing.com/snaps/longest-technical-recession-on-record-in-hungary/

But like the situation in the Netherlands, Hungary's inflation is very high at 20%. That's true Stagflation - a time when the monetary and economic systems are out of control.

Most countries are bordering on these technical recessions right now, with different quarters dipping in and out. It's maybe more surprising that it has taken so long to reach this point with runaway inflation happening throughout Europe and even the world. The Ukraine war has had a very damaging impact on fuel and food supplies in Europe, but as a richer continent they are probably still fairing great than many other countries. It's nothing to be alarmed about and is fairly mild in the grand scheme of things, as every country goes through this same economic cycle of boom and bust. It's better to accept it than try to constantly fight against it, because recession hits every country on a regular basis.

Taken in a macro-economic context, that's probably true. But it could also be the start of a bigger/longer crisis because inflation is still high, and still very "sticky". Plus the president of the European Central Bank, Christine Lagarde, has stated that they still have more hike rates to go to control and curb inflation. That will definitely be more damaging than expected.

[Yogee]

[....] Point being made here is, every country is fighting a war not just Russia or Ukraine instead every country is fighting one. We are also in the war with inflation and our country is totally depend on the Dollar because we are under huge debt from many countries but IMF is the one on top of the list. And increasing Interest rates are root problem of all of these things. There must be a balance between these economic situations.

Is it fair to say that large contributing factor to the inflation is the Russia-Ukraine conflict? How much fiat did the Dutch government printed and how much resources they put out so they could send aid? That's probably billions of Euros spent already.

[Yamane_Keto]

stagnation and inflation was scary words for a while, let alone stagflation, but in fact, this is what is happening in all countries of the world, the economic performance of the United States, the Federal Reserve continuing to raise interest rates, trade restrictions on China as a whole makes a 0.3% recession not a big problem It is under control or can be removed in the coming years. Some indicators, such as the rise in spending on culture and entertainment, finding alternatives to Russian gas, and the continuation of unemployment at low levels all confirm that it will be a relatively mild recession.

[MusaMohamed]

Recession is recession and technical recession is a term that is creatively used to reduce serious level of recession. If we don't lead our mind misleads by such creative misleading terms, we will know the recession already exists.

Germany witnessed a technical recession months ago (May) and now media is talking about the same in Netherlands.

In fact the whole world are in economic recession, not any single nation has yet witnessed national economic recession.

[Zlantann]

But like the situation in the Netherlands, Hungary's inflation is very high at 20%. That's true Stagflation - a time when the monetary and economic systems are out of control.

It's a little bit surprising to see that the Netherlands recently suffered from two consecutive quarters of negative growth. This is because the economy bounced back more quickly and strongly than most European nations after the COVID-19 pandemic. This adverse economic condition was mainly caused by the decline in exports and household consumption. The global economy is slowing and most people are reducing their expenses on essential goods which is leading to less import from other countries. And the most affected sector when there is less consumer spending are the industries, agriculture. and fishery. Almost every central bank are increasing interest rate to curb inflation but it is also affecting the flow of money that would have increased more spending by individuals.

I think the country should seek more markets for its exports and consider reducing interest rates to encourage more household spending.

[kryptqnick]

The website says that the wage grew above inflation, which seems good to me. I mean, yeah, the economy is not growing, and that's not great, but is it really that bad if a country is at a decent state when its economy stabilizes? The Netherlands is 11th in the world in GDP by capita, and 17th by GDP in the world overall. They have a pretty low unemployment rate, and percentage of people below the poverty line. I think when we talk about stagnation, it's really important to note the difference of stagnating somewhere near the top and stagnating when the country's economy is terrible, even with constant growth.

[Faisal2202]

The pioneer economic crisis for the world this decade began with COVID-19 pandemic IMO. The economic effect that is going on now has its roots from 2020 when the world almost shut down for the whole year. In fact some countries in Europe stayed back from manufacturing and financial activities. So the world economy is yet to recover from that, the infiltration of wars around only amplified the situation at hand.

Oops, I forget that there was COVID-19. I really am losing memory hehe. Well, it's not that we are not affected by it but it's like I never took it that seriously because that was all drama people were killed at that time just to collect bodies and sell bodies part here in my country. We are afraid to go to the hospital because there are many stories. Let me tell you one in which a young boy with his friend went to the hospital for some Bandges and the nurse said the injured one to wait in the room while the other was outside and after some time they said to that friend that your companion just passed away and they do not even allow the family to see his face and not allowed anyone to touch him.

The point is he was just injured in his arm and that injury could never kill a kid so how a young boy just got killed. Not just that, the same event occured in my village. And this all were fake reports to kill innocent people. Why they did it is just a mystery to me. But, Thanks for reminding me of COVID.