Eurozone GDP remains flat at 0.2%

GDP increased Eurozone GDP remained unchanged at 0.2% from the second quarter according to data from Eurostat on Tuesday.

GDP growth in both the eurozone and European Union remained unchanged at 0.2% during the third quarter of 2011, according to flash estimates published by Eurostat, the statistical office of the European Union.

In the second quarter of 2011, growth rates were +0.2% in both zones, showing that while growth has not improved since the escalation of the eurozone crisis, nor did it slow over the summer.

On an annual basis, eurozone GDP grew 1.4% in the third quarter, following a 1.6% rise in the previous quarter. Both results were in line with expectations.

Meanwhile, German and French economic growth rebounded in the third quarter of this year amid the market turmoil.

German GDP increased by 0.5% in the three months to September compared with the previous quarter, according to the country’s statistics office. At the same time, German data for the second quarter were revised upwards to show a 0.3% increase – compared with the 0.1%

Meanwhile, France reported a 0.4% increase in the third quarter – although its second-quarter data were revised downwards to show a 0.1% contraction, rather than the zero growth originally calculated.

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