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Macroeconomics  |  June 06, 2012 12:30:00

Euro area economy stagnated in the first quarter, confirmed the refined estimate


Eurozone gross domestic product adjusted for seasonal effects seen in the first quarter of zero growth after a decline of 0.3% in the fourth quarter of 2011, upheld the revised data to Eurostat. Compared economy unexpectedly fell by 0.1%, followed by growth of 0.7% in the previous quarter.

For comparison, U.S. GDP grew in the first quarter by 0.5% and 2.0% year on year, the GDP of Japan by 1.0% and 2.6% yoy.

Final consumption expenditure of households stagnated after a decrease of 0.5% in Q4 of the 2011th General government expenditure grew by 0.2%, but in the fourth quarter decreased by 0.1%. Fixed investment registered a fall of 1.4% following a decrease of 0.4% in the previous quarter. Exports of goods and services accelerated to 1.0% after a decline of 0.7% in the last quarter of 2011. Imports grew by 0.1%, followed by a decline of 1.7% in Q4 of the 2011th

The performance of the manufacturing sector stagnated in the manufacturing sector decreased by 0.1% and construction decreased by 1.1%. Power sector, trade, transport, accommodation and food services grew by 0.1% in the information and communication services fell by 0.5% in agriculture, forestry and fisheries jumped by 1.5%.

The decline in GDP reported five countries monetary union. The Spanish economy slowed by 0.3%, Italy 0.8%, Portugal 0.1%, Netherlands 0.2% and 0.3% of Cyprus. France recorded zero GDP growth figure from Ireland, Greece, Malta and Luxembourg not available. Germany's GDP is expected to increase by 0.5%. The strongest growth in Finland and Slovakia by 0.8%, respectively. by 0.7%.

Gross domestic product across the EU in the first quarter of this year was flat after a decrease of 0.3% in Q4 2011 and annual growth slowed from 0.8% to 0.1%. Czech economy decreased by 1.0%, the Hungarian economy fell by 1.3%, while the Polish economy expanded by 0.8%.

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