The Dutch economy grew by 0.9% on a quarterly basis in the fourth quarter of 2021, according to official data on Tuesday, according to Reuters.
The eurozone’s fifth-largest economy grew by 4.8% overall in 2021, offsetting an unprecedented 3.8% drop a year earlier, when a severe pandemic lockdown hit production and demand.
Growth last year was fueled mainly by a boom in consumer spending, as the country gradually opened up its economy from April to October, when the rise of the Delta mutation threatened to re-fill hospitals with coronavirus cases.
Consumer spending, however, fell 0.1% in the fourth quarter as coronavirus restrictions returned, while business investment rose nearly 3%.
Bars and restaurants were allowed to reopen under stricter conditions earlier this year and the government said last week it intended to lift most restrictions by the end of the month.
The Dutch economy is expected to grow by 3.5% this year.
Source: Capital
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