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Macroeconomics  |  August 14, 2012 12:52:00

The economy of the eurozone in the second quarter fell by 0.2 pct, the preliminary estimate

Eurozone gross domestic product adjusted for seasonal and calendar effects fell in the second quarter by 0.2% after stagnating in the first quarter, said preliminary data of Eurostat. Compared economy declined by 0.4% and followed by zero growth in the previous quarter.

The decline in GDP reported six countries Monetary Union, Spain 0.4%, Italy 0.7%, Portugal 1.2%, Finland 1.0%, Cyprus 0.8%, Belgium 0.6%. France recorded a zero growth in the third quarter in a row. Data from Ireland, Greece, Malta, Luxembourg and Slovenia was not available. Europe's largest economy, GDP quarter in Germany rose by 0.3%.

Gross domestic product 27EU wide in the second quarter this year dropped by 0.2% after stagnating in the first quarter. In comparison, the EU economy slowed by 0.2%. For comparison, U.S. GDP grew in the same quarter by 0.4% and by 2.2%, Japan's GDP by 0.3% and 3.6% year on year. The revised estimate published Statistical Office on 6 September.

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