Estimated Fall In EU GDP

The flash estimates of GDP for Europe for Q4 2012 suggest that GDP fell by 0.6% in the euro area and 0.5% in the EU27 quarter on quarter (Eurostat). The annual comparison suggests seasonally adjusted GDP fell by 0.9% in the euro area and 0.6% in the EU27 comaped with Q4 2011. GDP fell by 0.5% in the euro area and 0.3% in the EU27 over the whole of the year 2012.