Europe has dropped into recession, or nearly so. Eurostat reported that third-quarter gross domestic product in the euro-area fell 0.1%, compared with the second quarter. Among the EU27, GDP registered a 0.1% improvement. In the second quarter, both regions had negative GDP of 0.2%.
The drag was from the countries that would be expected — Portugal (-1.1%), Spain (-0.3%) and Italy (-0.2%). The news will not affect bailout plans. There is nothing in the report that was not expected.
Eurostat contrasted the GDP of the region with that Japan and the United States, but with the drop in Europe that contrast may be much less in the fourth quarter.
During the third quarter of 2012, GDP increased by 0.5% in the United States, compared with the previous quarter (after +0.3% in the second quarter of 2012) and fell by 0.9% in Japan (after +0.1%). Compared with the same quarter of the previous year, GDP rose by 2.3% in the United States (after +2.1% in the previous quarter) and by 0.2% in Japan (after +3.4%).
Douglas A. McIntyre
Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
