Posted by: youngragingbull | May 15, 2013

Eurozone GDP declines 0.2%

Data from Eurostat on Wednesday showed the Eurozone has fallen deeper into a recession as gross domestic product contracted by a worse-than-expected 0.2% in the first quarter of 2013.

Economists surveyed by FactSet expected the Eurozone economy to shrink by 0.1%.

On a country-specific basis, the data showed Spain and Italy both shrank 0.5%, while France fell 0.2%. Germany narrowly avoided a contraction, with the economy growing 0.1%.



  1. SIDENOTE: For the broader 27-nation EU, GDP slipped 0.1%.

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