GDP increased by 0.4% in the euro area (EA16) and by 0.5% in the EU27 during the third quarter of 2010, compared with the previous quarter, according to first estimates released by Eurostat, the statistical office of the European Union. In the second quarter of 2010, growth rates were +1.0% in both zones.

Compared with the third quarter of 2009, seasonally adjusted GDP increased by 1.9% in the euro area and by 2.2% in the EU27, after +2.0% in both zones for the previous quarter.

Variation in components of GDP

During the third quarter of 2010, household final consumption expenditure increased by 0.3% in both the euro area and the EU27 (after +0.2% and +0.3% respectively in the previous quarter). Gross fixed capital formation was stable in the euro area and rose by 0.2% in the EU27 (after +1.7% and +2.1%). Exports grew by 1.9% in the euro area and by 1.8% in the EU27 (after +4.3% and +4.0%). Imports increased by 1.7% in the euro area and by 1.6% in the EU27 (after +4.2% and +3.9%).

US and Japanese GDP increased

In the United States GDP increased by 0.6% during the third quarter of 2010, after +0.4% in the second quarter of 2010. In Japan GDP rose by 0.9% in the third quarter of 2010, after +0.4% in the previous quarter.

Compared with the third quarter of 2009, GDP grew by 3.2% in the United States (after +3.0% in the previous quarter), and by 4.1% in Japan (after +2.7%).