During the first quarter of 2013, GDP in the United States grew by 0.6% compared with the previous quarter (after +0.1% in the fourth quarter of 2012). Compared with the same quarter of the previous year, GDP rose by 1.8% (after +1.7% in the previous quarter).
GDP growth by Member State
Among Member States for which data are available for the first quarter of 2013, Lithuania (+1.3%), Latvia (+1.2%), Hungary and Romania (both +0.7%) recorded the highest growth compared with the previous quarter, and Cyprus (-1.3%), the Czech Republic (-1.1%) and Estonia (-1.0%) the largest decreases.
GDP components and contributions to growth
During the first quarter of 2013, household final consumption expenditure rose by 0.1% in both the euro area and the EU27 (after -0.6% and -0.3% respectively in the previous quarter). Gross fixed capital formation dropped by 1.6% in the euro area and by 1.4% in the EU27 (after -1.4% and -1.2%). Exports decreased by 0.8% in the euro area and by 0.6% in the EU27 (after -0.9% in both zones). Imports declined by 1.1% in the euro area and by 0.8% in the EU27 (after -1.2% and -1.0%).
In both the euro area and the EU27, gross fixed capital formation contributed negatively to GDP growth (-0.3 percentage points and -0.2 pp respectively), while the contributions of household final consumption expenditure and change in inventories were neutral in the euro area (0.0 pp each) and slightly positive in the EU27 (+0.1 pp each).