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Euro area and EU27 GDP falls by 0.2%

By Adam Cadle

Euro area GDP fell by 0.2% in both the euro area and the EU27 during the second quarter of 2012, latest estimates by Eurostat have shown.

Comparing these figures with the same quarter as last year, euro area GDP fell by 0.4%, and EU27 GDP fell by 0.2%.

The GDP growth rate in Spain fell by 0.4%, Italy’s growth rate fell by 0.7% and Hungary’s by 0.2%. UK growth rates fell by 0.7% compared with the previous quarter.

In Q2 2012, GDP increased by 0.4% in the US and by 0.3% in Japan. Compared with the same quarter as the previous year, GDP rose by 2.2% in the US and by 3.6% in Japan.

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