GDP up by 0.3% in the Euro Area and by 0.4% in the EU28

GDP up by 0.3% in the Euro Area and by 0.4% in the EU28

Seasonally adjusted GDP rose by 0.3 % in the euro area (EA19) and by 0.4 % in the EU28 during the fourth quarter of 2015, compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the European Union. In the third quarter of 2015, GDP also grew by 0.3 % and 0.4 % respectively.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.6 % in the euro area and by 1.8 % in the EU28 in the fourth quarter of 2015, after +1.6 % and +1.9 % respectively in the previous quarter.

During the fourth quarter of 2015, GDP in the United States increased by 0.3% compared with the previous  quarter (after +0.5 % in the third quarter of 2015). Compared with the same quarter of the previous year, GDP grew by 1.9 % (after +2.1 % in the previous quarter).

Over the whole year 2015, GDP rose by 1.6 % in the euro area and by 1.9 % in the EU28, compared with 0.9 % and 1.4 % respectively in 2014.

 

Graph 1

GDP growth by Member State

Among Member States for which data are available for the fourth quarter of 2015, Sweden (+1.3 %), Estonia (+1.2 %), Poland and Romania (both +1.1 %), Hungary and Slovakia (both +1.0 %) recorded the highest growth compared with the previous quarter. Decreases were registered in Croatia (-0.5 %) and Latvia (-0.3 %) while GDP in the Czech Republic remained stable.

Graph 2

GDP components and contributions to growth

During the fourth quarter of 2015, household final consumption expenditure rose by 0.2% in the euro area and by 0.4 % in the EU28 (after +0.5 % and +0.6 % respectively in the previous quarter). Gross fixed capital formation increased by 1.3 % in the euro area and by 1.1% in the EU28 (after +0.4 % for both zones). Exports rose by 0.2 % in the euro area and by 0.5 % in the EU28 (after +0.2 % in both zones). Imports increased by 0.9 % in the euro area and by 1.1% in the EU28 (after +1.2 % and +1.3 %).

Household final consumption expenditure had a positive contribution to GDP growth in both the euro area and the EU28 (+0.1 and +0.2 percentage points). Gross fixed capital formation also had a positive contribution in both zones (+0.3 pp and +0.2 pp). The contribution of the external balance to GDP growth was negative for both zones, while the contribution of changes in inventories was positive.

Graph 3 AGraph 3 BGraph 3 C

http://ec.europa.eu/eurostat/en


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