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European output flat [ClearOnMoney]
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European output flat

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Commentary

European output flat

15 May 2012 by Jim Fickett.

Today Eurostat provided its first estimate of GDP for Q1. From Q4, euro zone GDP was up 0.02%, and EU GDP was down 0.05%. In other words, flat, as far as we can tell at present. Once the data are revised in coming quarters, probably we will see either a continuation of the contraction seen in Q4 or the beginnings of recovery, but it is impossible to know which, with this first estimate.

(Data are from the ECB statistical data warehouse.)