Sunday, June 3, 2012

According to preliminary data of euro area GDP grew by 1.5% in 2011

Euro zone economy is facing a serious crisis of sovereign debt, has grown up to 2011. by 1.5%. These are the preliminary data published by the European statistical office Eurostat. At the same time for the IV quarter Eurozone GDP fell by 0.3%, which was better than forecasts of experts who had expected a decline of 0.4%. Not the last role was played by GDP data block major economies - Germany and France, published this morning, too, were better than expected.
In the IV quarter of the recession (negative GDP for two consecutive quarters or more) remained following countries: Belgium, Greece, Italy, Portugal and the Netherlands. At the same time in Austria, Germany, Great Britain, Romania, Czech Republic, Estonia, Lithuania and Spain, there were reductions of GDP.
The quarterly decline in Eurozone economy recorded the first time since the II quarter of 2009. Most economists predict a recession in the euro area in 2012. Thus, according to the International Monetary Fund, the euro area GDP in the current year will be reduced by 0.5%. In the 27 EU Member States GDP in the IV quarter of 2011. a quarterly basis fell by 0.3%, and by the end of 2011. increased by 1.6%.
Statistical Office of Germany and France have also published preliminary data on GDP growth up to the IV quarter of 2011. and for the entire past year. Two locomotives of the EU economy showed mixed trends, but in both cases it was better than market expectations.
The most pleasant surprise was presented the French: the second-largest economy in the EU has grown in the last three months of 2011. 0.2%, as reported by the country's National Statistics Office Insee. It was a complete surprise to the market - analysts had expected the index to decline by 0.2%. At the same time of the year the French GDP grew by 1.7%, almost laid in government forecast - 1.75%. The Government expects GDP growth to slow significantly this year - up 0.5%.
GDP EU's largest economy - Germany - declined in the IV quarter of 2011. on the same 0.2%. Nevertheless, even with the negative dynamics of the Germans were pleasantly surprised by the market, which is expected to fall deeper (0.3%). At the same time increased the Bureau of Statistics estimate of GDP growth in quarter III: on some data, it grew by 0.6% (previously reported growth of 0.5%).
As noted in the materials Statistical Office, the decline in GDP in the IV quarter of 2011. influenced by the deterioration of trade balance and a slight reduction in consumer spending. However, capital investments made a positive contribution to the GDP dynamics. Analysts note that the reduction of Germany's GDP was softer than expected in the fall. "Taken together with the unexpectedly good data on the GDP of France, a moderate reduction in GDP in Germany tells us that the result for the entire euro zone will be closer to the upper boundary for the IV quarter forecast" - quoted by Reuters specialist Alina Shuyling ABN Amro.
In January, the Ministry of Economy of Germany once again revised its forecast for growth in gross domestic product (GDP) in 2012. downward. According to the latest assessment of the German government, this year the EU's largest economy will add only 0.7% instead of the previously projected 1%. Thus, the engine of the economic power of the European Union sharply slowing down: in 2011. GDP growth was 3%, and in 2010. reached 3.6%.
According to expert agencies, international trade will not be able to contribute to an increase in GDP this year. The cause was the weakening of economic growth in Germany's trading partners. Experts believe that the contribution of international trade in the GDP will be negative (-0.3%), whereas a year earlier, the industry contributed to the growth rate of 0.8%. At the same time experts of the Ministry expects a significant slowdown in both imports and exports. So, if in the past, imports grew by 7.2% and 8.2%, but this year the growth will be only 3% and 2% respectively. However, in 2013. The situation should improve, and GDP growth accelerated to 1.6%.
Industrial output in the euro area in December last year decreased by 1.1% on a monthly basis and by 2% - in year. This was reported by the European statistics agency Eurostat. Thus, the data differed from the forecasts of analysts who had expected the index in December will fall 1.2% in both monthly and annual terms. Industrial output in the EU27 in December decreased by 0.9% in annual terms and by 0.6% - in the month.
The volume of production of durable goods in December on a monthly basis rose by 0.2% in the Eurozone and by 0.4% in the EU. The volume of non-durable goods in December compared to November remained unchanged in the euro area, but grew by 0.4% in the EU. Output in the energy sector in the euro area fell by 2% in the EU - by 1.2%. Production of intermediate goods in the eurozone declined by 0.7%, while in the EU - by 0.2%. The largest decline in industrial production in December was recorded in Malta (-2.9%), Germany (-2.7%), Greece and Latvia (-2.4%), whereas the maximum growth rate registered in Denmark (3 , 3%), Finland (+2.6%) and Ireland (+2.5%).
Trade surplus in the euro area in December 2011 amounted to 9.7 billion euros. This was also reported Eurostat. Analysts had expected the trade deficit will amount to 3.5 billion euros. The volume of exports of 17 countries belonging to the eurozone, in December 2011 on an annualized basis rose by 9%, and imports - by 1%. In monthly terms, seasonally adjusted exports of the Eurozone in December 2011 rose by 0.1% while imports decreased by 0.9%. Trade surplus in 27 states - members of the European Union (EU) in December 2011, according to preliminary data, amounted to 1.7 billion euros, while in December 2010 the deficit was 12.1 billion euros.
At the same time in December 2011 to December 2010, the export of 27 states - the EU increased by 11%, and imports - has not changed. In monthly terms, seasonally adjusted exports in the EU27 grew up in November 2011 by 1.4% while imports decreased by 0.6%. In November 2011 the euro area's trade surplus, according to revised data, amounted to 6.3 billion euros previously reported a positive balance of 6.9 billion euros. In November 2011 the trade deficit in the EU amounted to 7.5 billion euros.
As a result of 2011 overall trade deficit in the euro area amounted to 7.7 billion euros compared with 14.7 billion euros in 2010. In the EU, the deficit in 2011 amounted to 152.8 billion euros, which is slightly smaller than the 159.5 billion euros in the previous year.

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