Preliminary flash estimate for the second quarter of 2021: GDP up by 2.0 % in the Euro Area and by 1.9 % in the EU, +13.7 % and +13.2 % respectively compared with the second quarter of 2020

In the second quarter 2021, seasonally adjusted GDP increased by 2.0 % in the euro area and by 1.9 % in the EU, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union. In the first quarter of 2021, GDP had declined by 0.3 % in the euro area and 0.1 % in the EU.

These preliminary GDP flash estimates are based on data sources that are incomplete and subject to further revisions.

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 13.7 % in the euro area and by 13.2 % in the EU in the second quarter of 2021, after -1.3 % in both zones in the previous quarter.

Among the Member States for which data are available for the second quarter 2021, Portugal (+4.9 %) recorded the highest increase compared to the previous quarter, followed by Austria (+4.3%) and Latvia (+3.7 %), while Lithuania (+0.4 %) and Czechia (+0.6 %) recorded the lowest increase. The year on year growth rates were positive for all countries.

Geographical information

Euro area (EA19): Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

European Union (EU27): Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden.

Methods and definitions

European quarterly national accounts are compiled in accordance with the European System of Accounts 2010 (ESA 2010).

The preliminary flash estimate of the second quarter of 2021 GDP growth presented in this release is based on the data of 17 Member States, covering 93% of euro area GDP and 91% of EU GDP. The country coverage was not affected by the COVID-19 crisis.

Two statistical working papers present the preliminary GDP flash methodology for the European estimates and Member States estimates. The method used for compilation of European GDP estimates is the same as for previous releases.

For more information:

Eurostat website section on national accounts, and specifically the page on quarterly national accounts Eurostat database section on national accounts and Eurostat metadata on quarterly national accounts

Eurostat “Statistics Explained” articles on measuring quarterly GDP, presentation of updated quarterly estimates and the impact of COVID-19 on main GDP aggregates including employment.

Note on the impact of the COVID-19 outbreak on national accounts, guidance on quarterly national accounts (including flash) estimates in the context of the COVID-19 crisis and country specific metadata on the impact of COVID-19 on GDP estimates.

European System of Accounts 2010 Eurostat €-indicators release calendar European Statistics Code of Practice

www.ec.europa.eu