Eurozone and EU27 GDP down by 2.5% in first quarter of 2009; Annual falls at -4.6% and -4.4% respectively
May 15th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Eurozone (EA16) and the EU27 GDP (gross domestic product) fell by 2.5% in the first quarter of 2009, compared with the previous quarter, according to flash estimates published today by Eurostat, the EU statistics office. In the fourth quarter of 2008, growth rates were -1.6% in the Eurozone and -1.5% in the EU27. In the 12 months to March 2009, seasonally adjusted GDP fell by 4.6% in the Eurozone and by 4.4% in the EU27 after -1.4% contractions in both zones in the previous quarter.