Eurostat published a flash estimate for the fourth quarter of 2012 which indicates that compared with the previous quarter the GDP fell by 0.6% in the euro area and by 0.5% in the EU. Over the whole year 2012, GDP fell by 0.5% in the euro area and by 0.3% in the EU.

Eurostat, the statistical office of the European Union, published a flash estimate for the fourth quarter of 2012 with regard to the GDP figures. GDP fell by 0.6% in the euro area and by 0.5% in the EU during the fourth quarter of 2012, compared with the previous quarter. In the third quarter of 2012, growth rates were -0.1% and +0.1% respectively. Estimates for the third quarter of 2012 showed in December 2012 that GDP will decrease by 0.1% in the euro area while will increase by 0.1% in the EU.

The flash estimate of fourth quarter 2012 GDP growth presented by Eurostat is based on Member States’ data. According to figures provided by member states, compared with the same quarter of the previous year, seasonally adjusted GDP fell by 0.9% in the euro area and by 0.6% in the EU in the fourth quarter of 2012, after -0.6% and -0.4% respectively in the previous quarter.

GDP in the United States was stable compared with the previous quarter during the fourth quarter of 2012 (after +0.8% in the third quarter of 2012). Compared with the same quarter of the previous year, GDP rose by 1.5% in the United States (after +2.6% in the previous quarter).