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%).
iShares EU Last 12 Months
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