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Home News Europe Euro Area GDP up by 0.3% and EU27 up by 0.4%: Second Estimate for the Second Quarter of 2013


Euro Area GDP up by 0.3% and EU27 up by 0.4%: Second Estimate for the Second Quarter of 2013
added: 2013-09-10

GDP rose by 0.3% in the euro area (EA17) and by 0.4% in the EU27 during the second quarter of 2013, compared with the previous quarter, according to second estimates published by Eurostat, the statistical office of the European Union. In the first quarter of 2013, growth rates were -0.2% and -0.1% respectively.

Compared with the same quarter of the previous year, seasonally adjusted GDP fell by 0.5% in the euro area and remained stable in the EU27 in the second quarter of 2013, after -1.0% and -0.7% respectively in the previous quarter.

During the second quarter of 2013, GDP in the United States grew by 0.6% compared with the previous quarter (after +0.3% in the first quarter of 2013). Compared with the same quarter of the previous year, GDP rose by 1.6% (after +1.3% in the previous quarter).

GDP growth by Member State

Among Member States for which data are available for the second quarter of 2013, Portugal (+1.1%) recorded the highest growth compared with the previous quarter, followed by Germany, Lithuania, Finland and the United Kingdom (all +0.7%). Cyprus (-1.4%), Slovenia (-0.3%), Italy and the Netherlands (both -0.2%) registered the largest decreases.

GDP components and contributions to growth

During the second quarter of 2013, household final consumption expenditure rose by 0.2% in both the euro area and the EU27 (after -0.2% and 0.0% respectively in the previous quarter). Gross fixed capital formation increased by 0.3% in the euro area and by 0.4% in the EU27 (after -2.2% and -1.8%). Exports rose by 1.6% in the euro area and by 1.7% in the EU27 (after -1.0% and -0.6%). Imports increased by 1.4% in the euro area and by 1.2% in the EU27 (after -1.1% and -0.9%).

In both the euro area and the EU27, household final consumption expenditure contributed positively to GDP growth (+0.1 percentage points in both zones). The contribution of gross fixed capital formation was neutral in the euro area and positive (+0.1 pp) in the EU27.


Source: Eurostat

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