Netherlands: from the model pupil to a problem case - and back?

In 2003 the Netherlands had its first recession in two decades. Real gross domestic product decreased by 0.8%. The situation on the labour market deteriorated clearly, the unemployment rate increased to 3.8% for the year. Inflation stood at 2.2%. In 2004 real GDP will increase by around 1%. The unemployment rate will stand at 5½% for the year, and consumer prices could exceed the previous-year level by 1½%. In 2005 GDP will expand by 1¾%. The unemployment rate will increase to 6%, and inflation will stand at 1½%.