GDP in Euro area
The Eurostat reported today that economy contracted by 0.3% in last quarter of 2011. Reading in third quarter showed 0.1% growth.
Comparing with 2010 gross domestic product improved as expected by 0.7% in last 3 months of year.
German quarterly report showed GDP decrease by 0.2% instead 0.3% expected.
The Destatis presented also yearly data which shows 1.5% pace of increase in last quarter of 2011.
French economy expanded in last three months of 2011.
According to INSEE (National Institute of Statistics and Economic Studies) GDP grew by 0.2% instead of expected 0.2% decline in fourth quarter of 2011.
Also annual pace of growth was higher than expected (1.4% instead of 1.1%) in last quarter for France.
