(RTTNews) - Friday, according to flash estimates published by Eurostat, the Eurozone economy contracted 1.5% sequentially in the fourth quarter, larger than the 0.2% decline seen in the third quarter. Economists were expecting a sequential fall of 1.3%.

Compared with the same quarter of the previous year, seasonally adjusted GDP decreased 1.2% in the fourth quarter, reversing an increase of 0.6% in the third quarter.

Over the whole year 2008, GDP grew 0.7% in the euro area and by 0.9% in the EU27.

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Posted in Categories: Economy, Eurozone, Releases.

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