Another GDP miss, which is a theme around the world today.
Eurozone Q4 GDP has fallen by 0.6%. Expectations were for a decline of 0.4%.
From the report:
GDP fell by 0.6% in the euro area (EA17) and by 0.5% in the EU271 during the fourth quarter of 2012, compared with the previous quarter, according to flash estimates 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. During the fourth quarter of 2012, GDP in the United States was stable compared with the previous quarter (after +0.8% in the third quarter of 2012). Compared with the same quarter of the previous year, GDP rose by 1.5% in the United States (after +2.6% in the previous quarter). Over the whole year 20123, GDP fell by 0.5% in the euro area and by 0.3% in the EU27.
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