Dutch economy crept out of recession in Q1

[June 26, 2012]  THE HAGUE, Netherlands (AP) -- The Dutch government's statistics office says revised data from the first quarter of 2012 show that the crisis-hit economy managed to edge out of recession.

The Central Bureau for Statistics says its previous estimate that the economy shrank by 0.2 percent from the previous quarter has been revised to show growth of 0.3 percent.

The bureau says its figures published Tuesday show that "the economic picture is more positive than earlier."

In the updated estimate, government spending is higher than previously thought and a reduction in consumer spending smaller than the May estimate.

The statistics bureau says its new figure is based on information that was not previously available.

The Dutch economy is highly dependent on exports and has been hit hard by Europe's economic woes.

[Associated Press]

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