How does the impending crisis in europe affect asian countries? posted on June 6, 2012
Eeurozone GDP was flat in the first quarter of 2012 compared with the prevous quarter, Eurostat just announced. That is confirmation of the initial estimate.

However, on a year-on-year basis, it now believes that GDP fell by 0.1% (rather than 0% as first estimated last month).

So, confirmation that the eurozone was stagnant rather than actually shrinking in the first three months of 2012. But that's mainly due to strong growth in Germany - while many countries including Italy, Spain, Greece, Portugal and the Netherlands all contracted.

GDP across the wider European Union was also flat, with the UK shrinking by 0.3%.

 

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