GDP remained stable in both the euro area (EA17) and the EU27 during the first quarter of 2012, compared with the previous quarter, according to second estimates released by Eurostat, the statistical office of the European Union. In the fourth quarter of 2011, growth rates were -0.3% in both zones.

Compared with the first quarter of 2011, seasonally adjusted GDP decreased by 0.1% in the euro area and increased by 0.1% in the EU27, after +0.7% and +0.8% respectively in the previous quarter.

Variation in components of GDP

During the first quarter of 2012, household2 final consumption expenditure was stable in both the euro area and the EU27 (after -0.5% and -0.2% respectively in the previous quarter). Gross fixed capital formation fell by 1.4% in the euro area and by 0.9% in the EU27 (after -0.4% and -0.3%). Exports increased by 1.0% in the euro area and by 0.6% in the EU27 (after -0.7% and -0.3%). Imports rose by 0.1% in both zones (after -1.7% and -1.3%).

US and Japanese GDP

In the United States GDP increased by 0.5% during the first quarter of 2012, after +0.7% in the fourth quarter of 2011. In Japan GDP increased by 1.0% in the first quarter of 2012, after remaining stable in the previous quarter.

Compared with the first quarter of 2011, GDP gained 2.0% in the United States (after +1.6% in the previous quarter) and 2.6% in Japan (after -0.5%).