Dutch economy shrinks for 3rd consecutive quarter

STORY: Dutch economy shrinks for 3rd consecutive quarter SHOOTING TIME: Nov. 15, 2023 DATELINE: Nov. 16, 2023 LENGTH: 00:01:00 LOCATION: THE HAGUE, the Netherlands CATEGORY: ECONOMY SHOTLIST: 1. various of street views in the Netherlands STORYLINE: The Dutch economy contracted in the third quarter of 2023, which already was the third quarterly shrinkage of the year, Statistics Netherlands (CBS) said on Tuesday. According to CBS, the gross domestic product (GDP) fell by 0.2 percent in the Q3 of 2023 compared to the previous quarter. The contraction was smaller than in the first two quarters of this year, when the economy shrank by 0.5 and 0.4 percent respectively. The last time the Dutch economy shrank three quarters in a row was during the financial crisis in 2008 and 2009. "Many jobs often disappear during a recession," CBS chief economist Peter Hein van Mulligen explained in a presentation. "That is not the case now. Many jobs were created, 31,000 to be precise compared to the previous quarter. The la

Netherlands turns to coal, renewables as gas usage falls

STORY: Netherlands turns to coal, renewables as gas usage falls DATELINE: Sept. 11, 2022 LENGTH: 00:00:56 LOCATION: HAARLEM, the Netherlands CATEGORY: ECONOMY SHOTLIST: 1. various of solar panels, gas and heaters in Haarlem 2. wind turbines STORYLINE: Companies and consumers in the Netherlands are using less natural gas and turning to coal and renewable energy sources as the country, like many other European countries, suffers from declining natural gas supplies from Russia. "Gas consumption has decreased across the society, from companies to consumers," Peter Hein van Mulligen, chief economist at Statistics Netherlands, told Xinhua. "This will undoubtedly continue for a while, which also has to do with the rising price. Everyone needs gas, so the price goes up and companies are looking for alternatives," he added. Natural gas consumption in the Netherlands amounted to 17.6 billion cubic meters over the first six months of 2022, which is 25 percent less than in the same period last year, according to St

Dutch inflation rises above 10 pct for first time since 1975

STORY: Dutch inflation rises above 10 pct for first time since 1975 DATELINE: Aug. 6, 2022 LENGTH: 00:01:28 LOCATION: Amsterdam CATEGORY: ECONOMY SHOTLIST: various of a petrol stationvarious of a market STORYLINE: Inflation in the Netherlands rose to 10.3 percent in July, exceeding the 10 percent mark for the first time since September 1975, the Dutch Central Bureau of Statistics (CBS) announced on Thursday. The increase in inflation was mainly due to price developments for energy, such as electricity, gas and district heating. In July, energy was 108 percent more expensive than in the same month in 2021. Meanwhile, food was 12.3 percent more expensive than in the same month last year, compared to an 11.2 percent rise in June. Cereal products, dairy products, and sugar and confectionery, including ice cream, contributed most to this development. CBS chief economist Peter Hein van Mulligen said that the food price increases were the largest in decades. Edible oils such as sunflower oil, with a p