Sat, Feb 11 2012

Euro zone, EU GDP up by one per cent in Q2 2010

Thu, Sep 02 2010 13:06 CET

byClive Leviev-Sawyer

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Euro zone, EU GDP up by one per cent in Q2 2010

Photo: Assen Tonev

Gross Domestic Product (GDP) increased by one per cent in both the 16-member euro zone and across the 27 member states of the European Union during the second quarter of 2010, compared with the previous quarter, according to first estimates released by Eurostat, the EU's statistics office.

In the first quarter of 2010, growth rates were 0.3 per cent in both zones, Eurostat said on September 2 2010.

Compared with the second quarter of 2009, seasonally adjusted GDP increased by 1.9 per cent in both the euro area and the EU27, after increasing 0.8 per cent and 0.7 per cent, respectively, for the previous quarter.

During the second quarter of 2010, household final consumption expenditure increased by 0.5 per cent in both the euro zone and the EU27 (after increasing 0.2 per cent and 0.1 per cent, respectively, in the previous quarter).

Investments increased by 1.8 per cent in the euro area and by 1.7 per cent in the EU27 (after decreasing 0.4 per cent and 0.6 per cent, respectively).

Exports increased by 4.4 per cent in the euro area and by four per cent in the EU27 (after increases of 2.4 per cent and per cent). Imports increased by 4.4 per cent in the euro zone and by four per cent in the EU27.

In the United States, GDP increased by 0.4 per cent during the second quarter of 2010, after rising 0.9 per cent in the first quarter of 2010.

In Japan, GDP increased by 0.1 per cent in the second quarter of 2010, after increasing 1.1 per cent in the previous quarter.

Compared with the second quarter of 2009, GDP increased by three per cent in the US (after adding 2.4 per cent in the previous quarter) and by 1.9 per cent in Japan (after an increase of 4.4 per cent)

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