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 %).