EU-17: Zero growth confirmed, Italy bottom of rankings

Q1 eurozone GDP -0.1% , Eurostat

06 June, 11:51

Zero growth for GDP in the eurozone in the first quarter of the year Zero growth for GDP in the eurozone in the first quarter of the year

(ANSAmed) - BRUSSELS - Zero growth for GDP in the eurozone and the EU in the first quarter of the year, Eurostat has confirmed today. In the same period Italy recorded a drop in GDP of 0.8%, the worst result among those reported by Eurostat after Hungary (-1.3%) and the Czech Republic (-1%). Compared with the first quarter of 2011 and after seasonal corrections, in the January-March 2012 period GDP - according to the Eurostat figures - dropped by 0.1% in the eurozone but rose by 0.1% in the EU-27. In the previous quarter the variations had been +0.7% and +0.8%. In Italy the Eurostat figures confirm a decrease in GDP on the year by 1.3%, which is above only those of Greece (-6.2%), Portugal (-2.2%), Hungary (-1.5%) and Cyprus (-1.4%), and is at the same level as that of the Netherlands. The Eurostat figures also confirm the driving role played by Germany, with its first quarter GDP up by 0.5% in 2012 compared with the previous quarter and by 1.2% against the same period in 2011. Poland has also made significant strides forward at +0.8% on the previous quarter and +3.8% on the year.(ANSAmed).

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