CEO Comité Européen de l‘Outillage 
European Tool Committee 
Europäisches Werkzeugkomittee

GDP up by 0.4% in both euro area and EU28

Seasonally adjusted GDP rose by 0.4% in both the euro area (EA19) and the EU28 during the second quarter of 2018, compared with the previous quarter.

In the first quarter of 2018, GDP had also grown by 0.4% in both areas.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 2.1% in both the euro area and the EU28 in the second quarter of 2018, after +2.4% and +2.3% respectively in the previous quarter.

 

 

During the second quarter of 2018, GDP in the United States increased by 1.0% compared with the previous quarter (after +0.5% in the first quarter of 2018). Compared with the same quarter of the previous year, GDP grew by 2.9% (after +2.6% in the previous quarter).

Among Member States for which data are available for the second quarter of 2018, Malta (+1.9%), Estonia and Romania (both +1.4%) recorded the highest growth compared with the previous quarter, while the lowest growth was observed in Denmark, Greece, France and Italy (all +0.2%).

 

 

GDP components and contributions to growth

  • During the second quarter of 2018, household final consumption expenditure rose by 0.2% in the euro area and by 0.3% in the EU28 (after +0.5% in both areas in the previous quarter). Gross fixed capital formation increased by 1.2% in both the euro area and the EU28 (after +0.3% in both areas).
  • Exports increased by 0.6% in the euro area and by 0.2% in the EU28 (after -0.7% and -0.5%). Imports increased by 1.1% in the euro area and by 0.9% in the EU28 (after -0.3% and -0.1%).
  • 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 – pp respectively) and the contribution from gross fixed capital formation was also positive in both areas (+0.3 pp and +0.2 pp respectively).
  • The contribution of the external balance to GDP growth was negative for both areas while the contribution of changes in inventories was positive for both areas.

 

Further information:

GDP Second Quarter 2018

 

Source: Eurostat, http://ec.europa.eu/eurostat/news/news-releases

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Posted in General Market News, Market Trends & Statistics

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