Euro zone Q2 GDP shrank by confirmed 0.1 pct

BRUSSELS - Euro zone gross domestic product fell 0.1 percent in the second quarter compared with the previous three months, as nearly half of the dozen economies in the bloc contracted, Eurostat confirmed on Tuesday.

The data was unrevised from a previous estimate and marked the first quarterly contraction in the euro zone economy since the fourth quarter of 2001.

Its report is released on the same day the European Central Bank holds a policy-setting meeting but the figures are not expected to ruffle the financial markets, which have seen far more up-to-date reports on the health of the euro zone economy that suggest a gradual rebound is underway.

The Eurostat data showed the euro zone economy grew by 0.2 percent in the second quarter compared with a year earlier, a slowdown from the 0.7 percent increase reported in the first quarter.

A breakdown confirmed Germany, Italy and the Netherlands fell into recession in the second quarter as their economies suffered contracted for two successive quarters on a quarterly basis.

Belgium and France also reported quarterly economic contraction in the second quarter.

Euro zone household consumption rose 0.2 percent in the second quarter compared with the previous three months.

Exports fell 0.7 percent in the second quarter compared with the first, a smaller decline than the fall of 1.6 percent reported in the first three months of the year.