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GDP of EU shrinking

It is expected that in the third quarter 2008 GDP in both the Eurozone (EZ15) and EU27 decreased by 0.2%. In the second quarter this year GDP had fallen by 0.2% in the Eurozone and remained unchanged in the EU27.

As compared to the third quarter 2007 GDP increased by 0.7% and 0.8% in the Eurozone and the EU27 respectively over the third quarter 2008 (following +1.4% and +1.7% respectively in the previous quarter).

In the USA, GDP fell by 0.1% over the third quarter as compared to the second quarter. As compared to the third quarter 2007 GDP increased by 0.8% in the third quarter 2008. GERMAN