Euro area and EU27 GDP both up by 0.3%

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

Compared with the same quarter of the previous year, seasonally adjusted GDP fell by 0.7% in the euro area and by 0.2% in the EU27 in the second quarter of 2013, after -1.1% and -0.7% respectively in the previous quarter.

During the second quarter of 2013, GDP in the United States grew by 0.4% 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 1.4% (after +1.3% in the previous quarter).