Euro Area GDP down by 0.2% in Q2


GDP fell by 0.2% in both the euro area (EA17) and the EU27 during the second quarter of 2012, compared with the previous quarter, according to flash estimates published by Eurostat, the statistical office of the European Union.

In the first quarter of 2012, growth rates were 0.0% in both zones. Compared with the same quarter of the previous year, seasonally adjusted GDP fell by 0.4% in the euro area and by 0.2% in the EU27 in the second quarter of 2012, after 0.0% and +0.1% respectively in the previous quarter. During the second quarter of 2012, GDP increased by 0.4% in the United States compared with the previous quarter (after +0.5% in the first quarter of 2012) and by 0.3% in Japan (after +1.3%).

TradingEconomics.com, Eurostat
8/14/2012 1:09:19 PM