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

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index