Eurozone GDP declines more than expected in 2012's last 3 months

02/14/2013 | Reuters · Wall Street Journal, The

Widening the disconnection between eurozone financial markets and the real economy, regional GDP plunged an unexpected 0.6% in the fourth quarter from the third, with the two leading national economies -- Germany and France -- joining the peripheral nations in retreat. The latest pullback equates to a 2.3% annual rate of contraction. The European Central Bank has predicted the regional economy will pick up in the latter half of the year, but fiscal austerity measures and persistent unemployment may undermine that forecast.

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