EU, eurozone Q2 GDP down 0.2% from previous quarter

14 August 2012 10:41  [Source: ICIS news]

LONDON (ICIS)--Second-quarter GDP fell by 0.2% in both the EU and the eurozone from the previous three-month period, according to initial estimates from statistics agency Eurostat on Tuesday.

Among EU member states, the largest declines were seen in Portugal (-1.2%), Cyprus (-0.8%), Italy and the UK (both -0.7%), and Finland (-1.0%).

Falls were also seen in Spain (-0.4), the Czech Republic and Hungary (both -0.2%).

Germany’s economy grew by 0.3%, Latvia by 1.0%, Slovakia by 0.7% and Sweden by 1.4%. France showed no growth from the previous quarter.

Compared with the second quarter of 2011, seasonally adjusted GDP fell by 0.2% in the EU and by 0.4% in eurozone.

During the second quarter of 2012, GDP increased by 0.4% in the US compared with the previous quarter and by 0.3% in Japan. Compared with the same quarter of the 2011, GDP rose by 2.2% in the US by 3.6% in Japan (after +2.8%), Eurostat said.


By: Franco Capaldo
+44 (0)20 8652 3214



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