The Dutch economy shrank 0.1% on a quarterly basis in the first quarter of 2024, as exports fell and industrial production decreased, a first estimate published on Wednesday showed.

The euro zone's fifth-largest economy had ended a nine-months long recession in the final quarter of 2023. But that recovery was not sustained as industrial production dropped almost 4% in the first three months of this year.

Exports were 0.1% lower than in the final quarter of last year, while consumer spending increased 0.7%. (Reporting by Bart Meijer; Editing by Hugh Lawson)