GENEVA, SWITZERLAND – The eurozone economy slowed down in the second quarter of 2012, new figures from Eurostat Tuesday 14 August show: growth slipped by 0.2 percent, after 0 percent growth the previous quarter. The 17-nation region hovered on the edge of recession despite growth of 0.3 percent of the German economy. The larger 27-countries European Union also saw a 0.2 percent contraction during Q2, but figures for Ireland and Greece are not yet included in the results.
France’s growth of 0 percent was better than expected; a fall had been widely forecast.
Retail trade was up slightly in the eurozone, but industrial production was down 0.6 percent.