The recession in Europe got “less bad” in the first quarter of this year, if that is any comfort to the millions of people who are out of work and tens of thousands of businesses that are struggling to remain open. If the contraction continues, no matter what the rate, it is a sign that any real recovery is quarters away, if not years.
Eurostat says of gross domestic product in Europe:
GDP fell by 0.2% in the euro area1 (EA17) and by 0.1% in the EU27 during the first quarter of 2013, compared with the previous quarter, according to second estimates published by Eurostat
In the fourth quarter of 2012, growth rates were -0.6% and -0.5% respectively. Compared with the same quarter of the previous year, GDP fell by 1.1% in the euro area and by 0.7% in the EU27 in the first quarter of 2013, after -1.0% and -0.7% respectively in the previous quarter.
Not surprisingly, the worst of the damage among the region’s largest economies was in France (down 0.2%), Italy (down 0.5%) and Spain (down 5.0%).
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.