Fri, Feb 10 2012

EU, euro area GDPs fell – new statistics

Wed, Jul 08 2009 15:15 CET

byClive Leviev-Sawyer

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EU, euro area GDPs fell – new statistics

Euro area GDP fell by 2.5 per cent and EU27 GDP by 2.4 per cent during the first quarter of 2009, compared with the previous quarter, according to second estimates from Eurostat, the Statistical Office of the European Communities.
 
In the fourth quarter of 2008, growth rates were -1.8 per cent in both zones.
 
In comparison with the same quarter of the previous year, seasonally adjusted GDP declined in the first quarter of 2009 by 4.9 per cent in the euro area and by 4.7 per cent in the EU27.
 
In the first quarter of 2009, all EU member states for which seasonally adjusted GDP data were available registered a negative growth rate compared with the previous quarter, except Poland (0.4%) and Cyprus, at zero per cent.
 
In the first quarter of 2009, household final consumption expenditure declined by 0.5 per cent in the euro area and by 0.6 per cent in the EU27.
 
Investments fell by 4.1 per cent in the euro area and by 4.5 per cent in the EU27.
 
Exports fell by 8.8 per cent in the euro area and by 8.3 per cent in the EU27. Imports decreased by 7.6 per cent in the euro area and by 7.8 per cent in the EU27.

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