In the first quarter, Eurozone GDP was unchanged over the previous period, according to the flash estimate released by the statistical office (Eurostat) on 14 May. The reading was above both the 0.3% contraction in the fourth quarter and market expectations of a 0.2% drop. On an annual basis, economic growth was also flat, marking a deterioration compared to the 0.7% expansion 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 an expansion in GDP (+0.5% quarter-on-quarter), which marked a recovery from the 0.2% contraction recorded in the previous quarter. In France, Q1 GDP was unchanged compared to the previous quarter, which was a deterioration compared to the 0.1% rise seen in Q4. Italy experienced the largest contraction (-0.8% qoq), which marks a third consecutive quarter of declining output. Finally, Spain posted a 0.3% drop, which mirrored the result experienced in the previous quarter.
Eurozone GDP flat in Q1
May 15, 2012
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Eurozone Economic News
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.
September 30, 2016
Conditions in the labor market in the common-currency bloc remained broadly unchanged in August, according to recently released data by Eurostat.