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Home News Europe Euro Area GDP up by 0.1% and EU28 up by 0.2% - Second Estimate for the Third Quarter of 2013


Euro Area GDP up by 0.1% and EU28 up by 0.2% - Second Estimate for the Third Quarter of 2013
added: 2013-12-11

GDP rose by 0.1% in the euro area (EA17) and by 0.2% in the EU28 during the third quarter of 2013, compared with the previous quarter, according to second estimates published by Eurostat, the statistical office of the European Union. In the second quarter of 2013, growth rates were +0.3% and +0.4% respectively.

Compared with the same quarter of the previous year, seasonally adjusted GDP fell by 0.4% in the euro area and rose by 0.1% in the EU28 in the third quarter of 2013, after -0.6% and -0.1% respectively in the previous quarter.

During the third quarter of 2013, GDP in the United States grew by 0.7% compared with the previous quarter (after +0.6% in the second quarter of 2013). Compared with the same quarter of the previous year, GDP rose by 1.6% (after +1.6% in the previous quarter).

GDP growth by Member State

Among Member States for which data are available for the third quarter of 2013, Romania (+1.6%) and Latvia (+1.2%) recorded the highest growth compared with the previous quarter, followed by Hungary and the United Kingdom (both +0.8%). Cyprus (-0.8%), the Czech Republic (-0.5%), France and Italy (both -0.1%) registered decreases.

GDP components and contributions to growth

During the third quarter of 2013, household final consumption expenditure rose by 0.1% in the euro area and by 0.2% in the EU28 (after +0.2% in both zones in the previous quarter). Gross fixed capital formation increased by 0.4% in the euro area and by 0.6% in the EU28 (after +0.2% and +0.3% respectively). Exports rose by 0.2% in the euro area and remained stable in the EU28 (after +2.1% in both zones). Imports increased by 1.0% in the euro area and by 0.9% in the EU28 (after +1.6% and +1.5%).

In the euro area, household final consumption expenditure had a neutral contribution to GDP growth while in the EU28 it contributed positively (+0.1 percentage points). The contribution of gross fixed capital formation was positive in both zones (+0.1 pp). The positive contribution of changes in inventories (+0.3 pp in the euro area and +0.4 pp in the EU28) was offset by the negative contribution of external trade (-0.3 pp and -0.4 pp respectively).


Source: Eurostat

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