Eurozone GDP Contracts More Than ExpectedFebruary 14, 2013 @ 7:30 AM EST
Eurozone GDP Contracts in Q3
The Eurozone remained in a recession during the October – December 2012 period as the economy contracted for a third consecutive quarter.
Eurostat, the EU’s statistics office said on Thursday that Eurozone GDP contracted by -0.6% in the fourth quarter, which was below the consensus expectations for a decline of -0.4%. The decline followed a -0.1 decline in Q3 and a -0.2% contraction in Q2.
Germany’s GDP fell by -0.6% in the 4th quarter, which was below expectations for -0.5% and last quarter’s +0.2% (Q2: +0.3%).
France’s GDP also fell by -0.3% in Q4, which was also below expectations for -0.2% and last quarter’s +0.1% (Q2: -0.1%).
Italy’s GDP fell -0.9% in the fourth quarter, which was below expectations for -0.6% and last quarter’s -0.2% (Q2: -0.8%).
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