According to the second estimates released by Eurostat, the statistical office of the European Union, during the third quarter of 2012 gross domestic product (GDP) decreased by 0.1 percent in the euro area and increased by 0.1 percent in the EU-27, compared to the previous quarter. In the second quarter of the year, GDP was down 0.2 percent on quarter-on-quarter basis in both zones.
Compared with the same quarter of 2011, in the third quarter of 2012 seasonally adjusted GDP decreased by 0.6 percent in the euro area and by 0.4 percent in the EU-27, after decreasing by 0.4 percent and 0.3 percent respectively on year-on-year basis in the previous quarter.