In the second quarter, Eurozone GDP dropped 0.2% over the previous period, according to the flash estimate released by the statistical office (Eurostat) on 14 August. The reading was below the flat reading recorded in the first quarter and was in line with market expectations. On an annual basis, the economy contracted 0.4%, marking a deterioration compared to the flat reading recorded in the previous quarter. Among the major countries in the region, Germany, which accounts for nearly 30% of the Eurozone's output, was the only one to experience positive growth (+0.3% quarter-on-quarter), which marked nonetheless a moderation from the 0.5% expansion recorded in the previous quarter. In France, Q2 GDP was unchanged compared to the previous quarter, which mirrored the result seen in Q1. Italy experienced the largest contraction (-0.7% qoq), which marks a fourth consecutive quarter of declining output. Finally, Spain posted a 0.4% drop, which represented a slight deterioration compared to the 0.3% contraction experienced in the previous quarter.
Eurozone GDP contracts in Q2
August 14, 2012
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Eurozone Economic News
October 24, 2016
Recent data suggest that business activity in the Euro area picked up momentum at the start of Q4.
October 20, 2016
The European Central Bank (ECB) decided to stay the course and made no changes to its monetary policy at its 20 October meeting, matching market expectations.
October 17, 2016
Complete data released by Eurostat on 17 October confirmed that harmonized inflation was 0.4% in September, above August’s 0.2% and the highest reading seen since June 2014.
October 12, 2016
The industrial sector in the common-currency bloc grew in August after contracting in July.
September 30, 2016
Inflation rose to an almost two-year high in September, providing some evidence that the European Central Bank’s monetary stimulus is bearing fruit.