In the first quarter, Eurozone GDP was flat over the previous period, confirming the result of the flash estimate released by the statistical office (Eurostat) on 14 May. The reading was above the 0.3% drop recorded in the fourth quarter. On an annual basis, the economy contracted 0.1%, contrasting the 0.7% expansion recorded in the previous quarter. The first quarter reading was driven by an improvement in the domestic sector, while the net contribution from the external sector was unchanged from the previous quarter. Private consumption was flat over the previous quarter, which came in above the 0.5% quarter-on-quarter drop recorded in Q4 2011. On the other hand, gross fixed investment fell 1.4%, exceeding the 0.4% drop recorded in the previous period. Exports of goods and services rose 1.0% over the previous quarter, contrasting the 0.7% drop observed in Q4, while imports rose 0.1% (Q4: -1.7%). As a result, the contribution from net exports to overall growth was unchanged at the 0.4 percentage points recorded in the fourth quarter.
Flat reading confirmed in Q1
June 6, 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.