Brussels, 06/06/2012 (Agence Europe) - The eurozone and the EU27 experienced zero growth in the first quarter of 2012, according to a flash estimate published by Eurostat on 6 June. Both areas were able to escape from the recession, with no growth rather than the shrinking economy experienced in Q411 (-0.3%).
Compared with the first quarter of 2011, GDP in the eurozone is down 0.1% but has gone up by 0.1% in the EU27. The eurozone grew by 0.7% and the EU27 by 0.8% in the previous quarter.
Household spending remained stable in both areas, but gross capital accumulation fell by 1.4% in the eurozone and by 0.9% in the EU27.
Foreign trade is doing better. Eurozone exports went up 1% and EU27 exports by 0.6% in Q112, while imports rose by 0.1% in both areas. (EL/transl.fl)