Eurozone GDP falls in second quarter

Eurozone GDP contracted by 0.2% over the second quarter of 2012 compared with the first three months of this year, figures released by Eurostat revealed yesterday.

But there was a sharp contrast in performance between the northern European and southern European countries.

Germany posted a robust 0.3% growth over the three month period. The Netherlands grew by 0.2% and France registered a 0% growth rate. Finland was alone among the eurozone creditor countries to see a contraction of 1%.