Euro zone economy grew by 1.4 percent y/y in 2011; EU gained 1.5 percent, says Eurostat

Economies of the Euro zone and EU 27 grew by 1.4 percent and 1.5 percent in 2011, compared with 1.9 percent and 2 percent registered in 2010, according to a second estimate from Eurostat, the statistical office of the EU.

The US economy increased by 1.7 percent in 2011, a decrease from the 3 percent recorded in 2010, while Japan’s economy contracted by 0.9 percent in 2011, after expanding by 4.4 percent in 2010.

Romania’s GDP gained 2.5 percent y/y to RON 578.5 billion (around EUR 136 billion) in 2011, according to the National Statistics Institute (INS).

The European Commission projects in its latest economic forecast that stagnation will engulf the EU this year, while euro zone GDP will contract by 0.3 percent. Romania’s economy is estimated to grow by 1.6 percent.

Ovidiu Posirca

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