If there is any question about the existence of a new recession in Europe, statistics operation Eurostat answered it. The agency has reported gross domestic product data for the final quarter of 2012:
Source: thinkstock
GDP fell by 0.6% in the euro area (EA17) and by 0.5% in the EU27 during the fourth quarter of 2012, compared with the previous quarter, according to second estimates published by Eurostat, the statistical office of the European Union. In the third quarter of 2012, growth rates were -0.1% and +0.1% respectively.
Compared with the same quarter of the previous year, GDP fell by 0.9% in the euro area and by 0.6% in the EU27 in the fourth quarter of 2012, after -0.6% and -0.4% respectively in the previous quarter.
And:
Among Member States for which data are available for the fourth quarter of 2012, Latvia (+1.3%), Estonia (+0.9%) and Lithuania (+0.7%) recorded the highest growth compared with the previous quarter, and Portugal (-1.8%), Cyprus and Slovenia (both -1.0%) the largest decreases.
Greece, the poorest stepchild in the region, did not release fourth-quarter numbers.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
