Euro zone GDP up by just 0.1%

Gross Domestic Product (GDP) rose by 0.1 per cent in the Euro zone and the EU 27 during the fourth quarter of 2009, according to new figures published today.

GDP rose by just 0.1 per cent in the Euro zone and the EU 27 during the fourth quarter of 2009, according to new figures published today.

The data, which comes from Eurostat, the statistical office of the European Union, shows that on an annual basis seasonally adjusted GDP declined by 2.1 per cent in the euro zone and by 2.3 per cent in the EU27, during the fourth quarter.

This compares with declines of -4.1 per cent and -4.3 per cent respectively for the previous quarter.

During the fourth quarter, household final consumption expenditure was stable in both regions but investments fell by 0.8 per cent in the euro zone and by 1.3 per cent in theEuropean Union as a whole. Meanwhile exports increased by 1.7 per centin the euro zone and by 1.9 per cent in the EU27 while imports were 0.9 per cent iand 1.4 per cent respectively.

For 2009 as a whole, GDP decreased by 4.1 per cent in the euro zone and by 4.2 per cent the EU27, compared with increases of 0.6 per cent and 0.8 per cent respectively for 2008.