EMU: GDP contraction accelerates more than expected in Q4

Preliminary quarterly Eurozone GDP data, released today by Eurostat point to a 0.6% decrease in the fourth quarter of 2012, following a 0.1% decline registered the previous quarter. Market experts projected less contraction of -0.4%.

On an annual basis Eurozone GDP fell 0.9% in Q4, compared with the 0.6% drop in Q3 and exceeding expectations of a 0.7% decrease.