GDP in the first quarter is weaker in Euro area and EU

GDP in the first quarter is weaker in Euro area and EU

In the Euro area (EA17) GDP fell – according to Eurostat the EU Statistical Office – in the first quarter by 0.2 % and for the EU27 0.1 % and compared to the fourth quarter of 2012 it decreased for the EA17 group by 1.1 % and the EU27 by 0.7 %

In comparison the GDP of the U.S. grew by 0,6 % compared to the fourth quarter of 2012 (0.1 %) and compared to the first quarter of 2012 it rose by 1.8 % (1.7 %).

Among the member states reporting already definite results for the first quarter of 2013 we find Lithuania (+1.3 %), Latvia (+.1.2 %), Hungary and Romania both +0.7 % – they are quasi the best performers. In contrast, the least performers are Cyprus (-1.3 %), the Czech Republic (-1.1 %) and Estonia (-1.0 %).

During the first quarter of 2013 household final consumption rose by 0.1 % in both the Euro area and EU27, in the previous quarter the figures were 0.6 %, respectively -0.3 %. Exports fell by 0,8 % in the euro area and by 0.6 % in the EU27 (after -0.9% in both zones). Imports declined in Euro area by 1.1 % (-1.3 %) and in the EU27 by 0.8 % (-1.0 %).


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