Flash estimate for the second quarter of 2013 | WPN World People News

GDP rose by 0.3% in both the euro area1 (EA17) and the EU271 during the second quarter of 2013, compared with the previous quarter, according to flash estimates2 published by Eurostat, the statistical office of the European Union. In the first quarter of 2013, growth rates were -0.3% and -0.1% respectively.

Compared with the same quarter of the previous year, seasonally adjusted GDP fell by 0.7% in the euro area and by 0.2% in the EU27 in the second quarter of 2013, after -1.1% and -0.7% respectively in the previous quarter.

During the second quarter of 2013, GDP in the United States grew by 0.4% compared with the previous quarter (after +0.3% in the first quarter of 2013). Compared with the same quarter of the previous year, GDP rose by 1.4% (after +1.3% in the previous quarter).

1. The euro area (EA17) includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

Up to 30 June 2013, the European Union (EU27) included Belgium, Bulgaria, the Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United Kingdom. From 1 July 2013 the European Union (EU28) also includes Croatia.

As part of Eurostat's guidelines for the dissemination of data when the EU is enlarged, the aggregate data series commented on in this News Release refer to the official composition of the EU in the most recent quarter for which data is available.

European quarterly national accounts are compiled in accordance with the European System of Accounts 1995 (ESA95). The flash estimate of second quarter 2013 GDP growth presented in this release is based on Member States’ data as available, covering 97% of EA17 GDP (96% of EU27 GDP). For more details of the flash methodology please refer to News Release 55/2003 of 15 May 2003.

With the flash estimate, euro area and EU GDP figures for earlier quarters are not revised. All figures presented in this release may be revised with the second estimate of GDP scheduled for 4 September 2013.

Source: Eurostat