Milliman quarterly statistics data - Third quarter 2012

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By Gary Wells | 29 November 2012

For the third quarter of 2012, Europe’s debt crisis worsened as the Eurozone’s gross domestic product fell by 0.1%, which sent the region back into recession, its second since the financial crisis began in 2008.

The problems look set to continue, as the financial markets are betting that even worse data will emerge over the winter, with some analysts predicting a further contraction of 0.5% in the fourth quarter and potentially a contraction of 2.5% in 2013.

France continued to surprise analysts by recording growth of 0.2%, after many analysts feared it would head into recession, especially after its second-quarter figures were revised down to a contraction of 0.1%. Germany, Europe’s biggest economy, has felt the effects of the Eurozone crisis and only recorded modest growth of 0.2%. Economists predict further deterioration and if Germany were to slip into recession, it would be a powerful symbol of the Eurozone’s problems.

The UK’s economy grew by 1% between July and September, which was higher than the 0.6% that analysts had predicted. This was helped by Olympic ticket sales and the bounce-back from June’s extra bank holiday. However, as these effects unwind, the economy may contract again.

Outside of Europe, Japan performed poorly, with a contraction of 0.9%, while the US economy improved on its second quarter performance with growth of 0.5%, helped by rising consumer demands.

This report contains quarterly statistics data for markets around the world.