On this page we present the salient features of the economy of the Netherlands since the onset of the Great Recession in historical perspective, where the comparison is with the two prior business cycles that we are able to identify given available data.
The Great Recession was felt in the Netherlands hard which experienced roughly a five percent decline in GDP at the bottom. More troubling is that they have not recovered very well. The following graph plots the percentage change in Real GDP for the Netherlands.
The Role of Government
The Netherlands entered the Great Recession with a manageable stock of outstanding debt, a position that enabled them to increase spending. The figure below shows the response as measured by the percentage change in government consumption from the peak of the cycle to the present. This essentially captures the level of Government spending.