Eurozone Economy Shrunk In Q2 Amid Widespread Weakness


13/08/2012 15:09 AST  RTT News

The Eurozone economy probably contracted in the three months to June, extending the weakness seen in the past quarters, as the worsening crisis pushed bigger economies into recession.

Economists expect a 0.2 percent contraction in the gross domestic product in the second quarter to follow the region's narrow escape from a technical recession in the previous three months.

The 17-nation economy stalled during the first three months of the year following a 0.3 percent fall in GDP in the fourth quarter. Eurostat is set to release the data at 5 am ET on August 14.

Two of the biggest economies of the region are also set to release data on their second quarter economic performance tomorrow. Among the big four, Spain and Italy reported their numbers earlier.

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