RTTNews - Thursday, a final report from the Netherlands' Central Bureau of Statistics confirmed that the gross domestic product or GDP for the first quarter declined 4.5% year-on-year. The GDP was down 0.7% in the fourth quarter, revised from 0.6% initial estimate.

Sequentially, the GDP was down 2.6% in the first quarter, compared to the 1.1% decline in the previous

quarter, revised from 1.2% fall reported initially. The first quarter figure was revised from 2.8% fall in the preceding report.

The statistical office upwardly revised 2007 annual GDP growth to 3.6% from 3.5%, while the pace of expansion for 2008 was lowered to 2% from 2.1%.

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