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Eurozone GDP Contracts More Than Expected

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Eurozone GDP Contracts in Q3

The Eurozone remained in a recession during the October â?? December 2012 period as the economy contracted for a third consecutive quarter.

Eurostat, the EUâ??s statistics office said on Thursday that Eurozone GDP contracted by -0.6% in the fourth quarter, which was below the consensus expectations for a decline of -0.4%. The decline followed a -0.1 decline in Q3 and a -0.2% contraction in Q2.

Germanyâ??s GDP fell by -0.6% in the 4th quarter, which was below expectations for -0.5% and last quarterâ??s +0.2% (Q2: +0.3%).

Franceâ??s GDP also fell by -0.3% in Q4, which was also below expectations for -0.2% and last quarterâ??s +0.1% (Q2: -0.1%).

Italyâ??s GDP fell -0.9% in the fourth quarter, which was below expectations for -0.6% and last quarterâ??s -0.2% (Q2: -0.8%).

 

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About the Author

David Moenning is a the Chief Investment Officer at Heritage Capital Management. Dave is also the proprietor of StateoftheMarkets.com, which provides free and subscription-based portfolio services. Dave began his investment career in 1980 and has been an independent money manager since 1987. Thus, Dave has been live on the firing line and investing for a living for more than 25 years.