According to the second estimates released by Eurostat, the statistical office of the
European Union, during the second quarter of 2012 gross domestic product (GDP) decreased by 0.2 percent in the euro area and by 0.1 percent in the EU-27, compared to the previous quarter. In the first quarter of the year, GDP was stable on quarter-on-quarter basis in both zones.
Compared with the same quarter of 2011, in the second quarter of 2012 seasonally adjusted GDP decreased by 0.5 percent in the euro area and by 0.3 percent in the EU-27, after respectively remaining stable and indicating a year-on-year increase of 0.1 percent in the previous quarter.