GDP fell by 0.6% in the euro area1 (EA17) and by 0.5% in the EU27 during the fourth quarter of 2012, compared with the previous quarter, according to flash estimates2 published by Eurostat, the statistical office of the European Union. In the third quarter of 2012, growth rates were -0.1% and +0.1% respectively.
Compared with the same quarter of the previous year, seasonally adjusted GDP fell by 0.9% in the euro area and by 0.6% in the EU27 in the fourth quarter of 2012, after -0.6% and -0.4% respectively in the previous quarter.
That’s the eurozone’s worst quarterly performance in almost four years.
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