Eurozone GDP falls only 0.1% in Q2 2009 following surprise growth in Germany and France
Eurozone GDP fell by 0.1% and by 0.3% in the EU27 during the second quarter of 2009, compared with the previous quarter, according to flash estimates published today by the EU statistics office. In the first quarter of 2009, growth rates were -2.5% in the Eurozone and -2.4% in the EU27. The German economy expanded slightly in the second quarter of 2009 for the first time since the first quarter of 2008, according to the German statistics office Destatis. Gross domestic product increased 0.3% in the second quarter of 2009 on the previous quarter.Compared with the second quarter of 2008, the price-adjusted GDP product was down 7.1%. Germany's economic performance decreased 5.9% on a year earlier. The French economy also expanded 0.3% in the latest quarter.
The Eurozone (EA16) consists of Belgium, Germany, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland. The EU27 includes Belgium (BE), Bulgaria (BG), the Czech Republic (CZ), Denmark (DK), Germany (DE), Estonia (EE), Ireland (IE), Greece (EL), Spain (ES), France (FR), Italy (IT), Cyprus (CY), Latvia (LV), Lithuania (LT), Luxembourg (LU), Hungary (HU), Malta (MT), the Netherlands (NL), Austria (AT), Poland (PL), Portugal (PT), Romania (RO), Slovenia (SI), Slovakia (SK), Finland (FI), Sweden (SE) and the United Kingdom (UK).
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