ISSN 2330-717X

GDP Up By 0.6% In Both Euro Area And EU28

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Seasonally adjusted GDP rose by 0.6% in both the euro area (EA19) and in the EU28 during the second quarter of 2017, 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 2017, GDP had grown by 0.5% in both zones.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 2.1% in the euro area and by 2.2% in the EU28 in the second quarter of 2017, after +1.9% and +2.1% in the previous quarter.

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

The European Union (EU28) includes Belgium, Bulgaria, the Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United Kingdom.

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 2017 GDP growth presented in this release is based on the data of 18 Member States, covering 94% of EA19 GDP (93% of EU28 GDP). Two statistical working papers present the preliminary GDP flash methodology for the European estimates and Member States estimates.

With this preliminary flash estimate, euro area and EU GDP figures for earlier quarters are not revised.


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