RTTNews - Friday, a report by the Netherlands' Central Bureau of Statistics said the gross domestic product or GDP shrank 4.5% year-on-year in the first quarter compared to a 0.6% drop in the fourth quarter. Economists expected the GDP to fall 3.1%. The latest fall in GDP is the biggest since the Second World War.

Sequentially, the GDP fell 2.8% in the first quarter, following a 1.2% decline in the fourth quarter. Economists were looking for a 1.5% fall. The GDP declined for four consecutive quarters in the first quarter, on a sequential basis.

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