Euro Area and EU27 GDP Up by 0

8/9/2019 Euro Area and EU27 GDP Up by 0

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101/2010 - 7 July 2010

Second estimates for the first quarter of 2010

Euro area and EU27 GDP up by 0.2%+0.6% and +0.5% respectively compared with the first quarter of 2009

Euro area1 (EA16) and EU27

1GDP both increased by 0.2% during the first quarter of 2010, compared with the

previous quarter, according to second estimates from Eurostat, the statistical office of the European Union. In

the fourth quarter of 2009, growth rates were +0.1% in the euro area and +0.2% in the EU27.

In comparison with the same quarter of the previous year, seasonally adjusted GDP rose in the first quarter of 2010

by 0.6% in the euro area and by 0.5% in the EU27, after -2.1% and -2.3% respectively in the previous quarter.

In the first quarter of 2010, among Member States for which seasonally adjusted GDP data are available, Ireland

(+2.7%) recorded the highest growth rate compared with the previous quarter, followed by Sweden (+1.4%) and

Portugal (+1.1%).

Variation in components of GDP

In the first quarter of 2010, household2

final consumption expenditure decreased by 0.1% in both the euro area

and the EU27 (after +0.2% in both zones in the previous quarter). Investments fell by 1.2% in the euro area and by

1.3% in the EU27 (after -1.2% and -1.5% respectively). Exports increased by 2.1% in the euro area and by 2.0% in

the EU27 (after +1.8% and +1.9%). Imports rose by 3.8% in the euro area and by 3.4% in the EU27 (after +1.2%

and +1.6%).

US GDP up by 0.7%, Japanese GDP up by 1.2%

Among the main partners of the EU, GDP increased by 0.7% in the US in the first quarter of 2010 (+1.4% in the

previous quarter). In Japan GDP grew by 1.2% in the first quarter of 2010 (+1.1% in the previous quarter).


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Growth rates of GDP in volume(based on seasonally adjusted data)

Percentage change compared with the

previous quarter

Percentage change compared with the same

quarter of the previous year

2009 2010Previously

released value*2009 2010

Previouslyreleased value*

Q2 Q3 Q4 Q1 2010 Q1 Q2 Q3 Q4 Q1 2010 Q1

EA16 -0.1 0.4 0.1 0.2 (0.2) -4.9 -4.1 -2.1 0.6 (0.6)

EU27 -0.2 0.3 0.2 0.2 (0.2) -5.1 -4.3 -2.3 0.5 (0.5)

EU Member States

Belgium -0.1 0.7 0.3 0.1 (0.1) -4.1 -3.2 -0.8 1.0 (1.0)Bulgaria** : : : : : -4.9 -5.4 -5.9 -3.6 (-4.0)

Czech Republic -0.5 0.5 0.5 0.5 (0.2) -4.7 -4.4 -3.2 1.1 (1.2)

Denmark -1.8 0.6 0.2 0.5 (0.6) -6.8 -5.3 -2.9 -0.6 (-0.6)

Germany 0.4 0.7 0.2 0.2 (0.2) -5.8 -4.8 -2.2 1.5 (1.5)

Estonia** -2.1 -0.2 2.4 -2.0 (-2.3) -16.1 -15.6 -9.5 -2.0 (-2.3)

Ireland -0.3 -0.2 -2.7 2.7 : -7.7 -7.7 -5.6 -0.6 :

Greece -0.3 -0.5 -0.8 -1.0 (-0.8) -1.9 -2.5 -2.5 -2.5 (-2.3)Spain -1.0 -0.3 -0.1 0.1 (0.1) -4.2 -4.0 -3.1 -1.3 (-1.3)

France 0.2 0.3 0.6 0.1 (0.1) -3.1 -2.6 -0.5 1.2 (1.2)

Italy -0.3 0.4 -0.1 0.4 (0.5) -6.1 -4.7 -2.8 0.5 (0.6)

Cyprus -0.9 -0.7 -0.3 0.1 (-0.2) -1.8 -2.6 -2.7 -1.7 (-2.3)

Latvia -0.1 -3.8 -1.5 0.3 (0.3) -16.9 -19.3 -16.8 -5.1 (-5.1)

Lithuania -1.0 1.0 1.3 -3.9 (-3.9) -16.6 -14.7 -12.5 -2.6 (-2.6)

Luxembourg -1.6 4.8 -0.2 : : -7.6 -1.1 1.4 : :

Hungary -1.4 -0.6 0.2 0.9 (0.9) -7.2 -6.8 -4.6 -0.9 (-0.8)

Malta -0.1 0.5 1.0 0.8 : -2.2 -1.5 0.7 2.3 :

Netherlands** -1.0 0.6 0.5 0.3 (0.2) -5.3 -3.7 -2.2 0.6 (0.1)

Austria -0.5 0.7 0.3 -0.1 (0.0) -4.6 -3.3 -1.7 0.4 (0.5)

Poland 0.6 0.6 1.1 0.5 (0.5) 1.4 1.4 2.8 2.8 (2.8)

Portugal0.7 0.2 -0.1

1.1(1.0)

-3.1 -2.3 -1.0 1.8(1.7)

Romania -1.5 0.1 -1.5 -0.3 (-0.3) -8.0 -7.6 -6.9 -3.2 (-3.2)

Slovenia -0.1 0.1 -0.3 -0.5 (-0.5) -8.8 -8.8 -6.3 -0.8 (-0.8)

Slovakia 0.8 1.2 1.7 0.8 (0.8) -5.1 -5.2 -3.9 4.5 (4.5)

Finland -0.4 0.5 -0.2 -0.4 : -9.6 -8.4 -5.4 -0.6 :


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1. The euro area (EA16) consists of Belgium, Germany, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, theNetherlands, Austria, Portugal, Slovenia, Slovakia and Finland.The EU27 includes Belgium (BE), Bulgaria (BG), the Czech Republic (CZ), Denmark (DK), Germany (DE), Estonia (EE),Ireland (IE), Greece (EL), Spain (ES), France (FR), Italy (IT), Cyprus (CY), Latvia (LV), Lithuania (LT), Luxembourg (LU),

Hungary (HU), Malta (MT), the Netherlands (NL), Austria (AT), Poland (PL), Portugal (PT), Romania (RO), Slovenia (SI),Slovakia (SK), Finland (FI), Sweden (SE) and the United Kingdom (UK).

2. NPISH (Non-profit institutions serving households) included.

Summary quality information:

European quarterly national accounts are compiled in accordance with the European System of Accounts 1995 (ESA95).Estimates for the euro area and EU27 are based on Member States data as available, covering 100% of euro area GDP (100%of EU27 GDP). Coverage for the components of GDP may be smaller. These data are seasonally adjusted (and in most casesalso corrected for working days) according to national adjustment procedures. Seasonally adjusted European aggregates arecalculated from seasonally adjusted Member States data (indirect seasonal adjustment).

The euro area and EU27 growth rates published today constitute the second estimation for the first quarter 2010. The firstestimation was published in the News Release 81/2010 of 4 June 2010. This was based on a more limited data set than the oneused for the present News Release and, additionally, on first estimates for some Member States, which have now been revised.The published growth rate of GDP for the first quarter 2010 compared with the previous quarter, which had been estimated at+0.2% in both the euro area and the EU27, remains unchanged in both zones. Compared with the first quarter 2009, GDPgrowth that had been estimated at +0.6% in the euro area and at +0.5% in the EU27, remains unchanged in both zones.

With this second regular estimate, previously published euro area and EU27 figures are subject to revision for all variables and

all quarters. The next release of quarterly GDP on 13 August 2010 will give a flash estimate for growth in the second quarter2010. Figures presented in this release may be revised again with the following first regular estimate for the second quarter2010, scheduled for 2 September 2010. A full release calendar is available on the Eurostat website (Release Calendar).

Further data on the income breakdown of GDP, in particular compensation of employees by industry and gross operatingsurplus, on national income and saving and on employment are available on Eurostats website (Data/Economy andFinance/National Accounts). Also there, additional general information on European Quarterly National Accounts is given inthe metadata files linked to the data tables.

Issued by:Eurostat Press Office

Tim ALLENTel: +352-4301-33 444

[email protected]

Eurostat news releases on the internet:http://ec.europa.eu/eurostat

For further information on data:

Jukka JALAVATomas DUCHON

Tel: +352-4301-38 435

+352-4301-32 383

[email protected]

Selected Principal European Economic Indicators: http://ec.europa.eu/eurostat/euroindicators
mailto:[email protected]://ec.europa.eu/eurostatmailto:[email protected]://ec.europa.eu/eurostat/euroindicatorshttp://ec.europa.eu/eurostat/euroindicatorsmailto:[email protected]://ec.europa.eu/eurostatmailto:[email protected]


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GDP AND GRO SS VALUE ADDED BY INDUSTRY

EURO AREA, EU27 AND EU MEMBER STATES

levels First quarter 2010, in millions of euro, seasonally adjusted, at current prices

Agriculture, h unting

and fishing

Industry, incl.

EnergyConstruction

Trade, transportand communication

services

Financial servicesand business

activities

Other servicesTaxes less

subsidies on

products

EA16 2 263 434.3 33 005.6 369 144.1 124 032.4 419 334.2 599 468.6 496 580.7 2 041 565.5 221 868.8

EU27 3 003 809.0 44 319.6 495 533.1 162 360.3 559 669.3 783 228.1 651 216.6 2 696 327.0 307 481.9

EU MEMBER STATES

BE 85 080.0 508.0 12 892.0 3 794.0 16 553.0 23 042.0 19 283.0 76 073.0 9 007.0

BG 8 485.3 408.1 1 628.1 565.8 1 652.8 1 801.6 1 275.7 7 295.4 1 258.9

CZ 34 986.0 724.9 9 549.1 2 079.2 7 585.4 5 726.5 5 594.8 31 259.9 3 726.1

DK 57 682.4 582.2 8 875.9 2 084.4 9 671.1 13 509.5 14 777.1 49 500.3 8 182.1

DE 611 260.0 4 460.0 126 770.0 23 410.0 93 870.0 170 790.0 131 660.0 550 960.0 60 300.0

EE 3 367.1 : : : : : : : :

IE 39 009.8 : : : : : : : :

EL 59 661.6 1 896.6 6 246.1 2 124.3 17 852.7 11 056.6 14 170.7 53 347.0 6 314.6

ES 264 376.0 6 114.0 37 391.0 24 977.0 61 723.0 57 499.0 57 091.0 244 795.0 19 581.0

FR 480 839.0 7 321.0 53 716.0 26 572.0 81 387.0 146 907.0 117 432.0 433 336.0 47 504.0

IT 381 936.2 6 282.0 64 436.3 21 069.5 76 737.0 99 221.9 75 912.5 343 659.1 38 277.0

CY 4 195.0 81.0 368.0 333.3 920.2 1 086.4 976.2 3 765.1 429.9

LV 4 384.7 141.6 603.7 181.7 1 164.7 934.5 882.6 3 903.4 466.4

LT 6 654.9 301.6 1 323.7 236.5 1 885.5 916.9 1 273.7 5 937.8 717.1

LU : : : : : : : : :

HU 24 439.5 596.1 5 096.3 866.2 4 251.7 4 947.7 4 809.9 20 554.7 4 001.6

MT 1 514.0 24.9 204.2 41.8 305.4 318.4 409.9 1 304.5 209.5

NL 144 634.9 2 332.6 23 479.3 7 125.9 26 172.5 36 468.3 33 631.7 129 387.3 15 255.7

AT 70 161.2 860.5 13 743.9 4 617.1 14 400.6 15 188.8 14 158.9 63 287.9 7 104.6

PL 86 485.8 2 820.8 16 762.9 4 970.9 21 002.6 15 485.7 14 872.5 75 915.3 9 966.3PT 42 613.6 853.2 6 423.2 2 219.8 9 683.3 8 766.7 9 540.5 37 486.7 5 250.7

RO 30 276.3 1 989.4 7 352.0 2 715.4 6 419.4 4 503.6 4 060.9 27 040.7 2 893.4

SI 8 648.8 141.5 1 808.2 540.8 1 700.5 1 770.0 1 655.8 7 585.3 1 087.8

SK 16 080.7 395.4 3 763.6 1 164.9 3 611.5 3 124.3 2 569.5 14 629.1 1 534.5

FI 42 684.0 1 007.0 8 166.0 2 314.0 7 019.0 9 396.0 9 371.0 37 273.0 5 411.0

SE : : : : : : : : :

UK 405 766.1 2 843.6 60 516.0 20 641.1 72 288.2 118 668.3 87 340.0 362 297.2 43 201.9

: Data not available.

Total Gross Value

Added

T6

GDP


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T7 CONTRIBUTIONS OF EXPENDITURE COMPONENTS TO VARIATION IN GDPt/t-1 GDP VOLUME VARIATION OVER THE PREVIOUS QUARTER SEASONALLY ADJUSTED

GDPHousehold & NPISH finalconsumption expenditure

Government finalconsumption expenditure

Gross Fixed CapitalFormation

Change in Inventories (1) Exports Imports

2009 2010 2009 2010 2009 2010 2009 2010 2009 2010 2009 2010 2009 2010

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

EA16 -0.1 0.4 0.1 0.2 0.1 -0.1 0.1 -0.1 0.1 0.1 0.0 0.0 -0.3 -0.2 -0.2 -0.2 -0.6 0.5 0.0 1.0 -0.4 1.1 0.7 0.8 1.0 -1.0 -0.4 -1.3

EU27 -0.2 0.3 0.2 0.2 -0.1 -0.1 0.1 -0.1 0.1 0.1 0.0 0.1 -0.5 -0.1 -0.3 -0.2 -0.4 0.4 0.2 1.0 -0.4 1.0 0.7 0.7 1.0 -1.0 -0.6 -1.2

T8 CONTRIBUTIONS OF EXPENDITURE COMPONENTS TO VARIATION IN GDPt/t-4 GDP VOLUME VARIATION OVER THE SAME QUARTER OF THE PREVIOUS YEAR SEASONALLY ADJUSTED

EA16 -4.9 -4.1 -2.1 0.6 -0.7 -0.7 -0.3 0.0 0.6 0.6 0.4 0.3 -2.5 -2.5 -1.8 -1.0 -1.1 -0.8 -1.1 1.0 -7.2 -5.7 -2.1 2.1 6.0 5.1 2.8 -1.7

EU27 -5.1 -4.3 -2.3 0.5 -1.1 -1.1 -0.6 -0.1 0.5 0.6 0.4 0.4 -2.7 -2.5 -2.0 -1.2 -1.5 -1.2 -0.8 1.2 -6.8 -5.4 -1.9 2.0 6.4 5.3 2.7 -1.8

(1) Change in inventories includes acquisitions less disposals of valuables.

T9t/t-1

2010 2010 2010 2010 2010 2010 2010 2010

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

EA16 -0.1 0.4 0.1 0.2 0.0 0.0 0.0 0.0 -0.2 0.3 0.1 0.3 -0.1 -0.1 -0.1 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.1 0.0 0.1 0.1 -0.2

EU27 -0.2 0.3 0.2 0.2 0.0 0.0 0.0 0.0 -0.1 0.3 0.1 0.3 0.0 0.0 -0.1 -0.1 0.0 0.0 0.0 0.0 -0.1 -0.1 0.0 0.1 0.1 0.0 0.0 0.1 0.0 0.1 0.1 -0.2

T10t/t-4

EA16 -4.9 -4.1 -2.1 0.6 0.0 0.0 0.0 0.0 -3.0 -2.4 -1.2 0.6 -0.3 -0.3 -0.3 -0.4 -1.0 -1.0 -0.6 0.0 -0.5 -0.5 -0.3 0.1 0.3 0.2 0.2 0.3 -0.3 -0.2 0.0 0.0

EU27 -5.1 -4.3 -2.3 0.5 0.0 0.0 0.0 0.0 -2.8 -2.2 -1.1 0.6 -0.4 -0.3 -0.3 -0.3 -1.1 -0.9 -0.5 0.1 -0.6 -0.6 -0.4 0.0 0.2 0.2 0.2 0.3 -0.5 -0.4 -0.1 -0.1

CONTRIBUTIONS OF GROSS VALUE ADDED BY INDUSTRY TO VARIATION IN GDP

CONTRIBUTIONS OF GROSS VALUE ADDED BY INDUSTRY TO VARIATION IN GDP

GDP VOLUME VARIATION OVER THE PREVIOUS QUARTER SEASONALLY ADJUSTED

GDPAgriculture, hunting and

fishing Industry, incl. Energy ConstructionTrade, transport and

communication services Other servicesTaxes less subsidies on

products

GDP VOLUME VARIATION OVER THE SAME QUARTER OF THE PREVIOUS YEAR SEASONALLY ADJUSTED

2009 2009 2009 20092009 2009

Financial services and

business activities

2009 2009

Euro Area and EU27 GDP Up by 0

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