GDP in the Eurozone (EZ16) and the EU27 was down by 2.7% each in the first quarter 2009 as compared to the fourth quarter 2008, according to estimates by the European Statistical Office (Eurostat). In the fourth quarter 2008 GDP had decreased by 1.6% and 1.5% respectively as compared to the third quarter last year. In comparison with the first quarter last year GDP fell by 4.6% and 4.4% respectively in the first quarter 2009.
GDP in the USA fell by 1.6% on the previous quarter in the first quarter 2009 and by 2.6% as compared to the first quarter last year. 