1 2005Q1 2005Q2 2005Q3 2005Q4 2006Q1 2006Q2 2006Q3 2006Q4 2007Q1 2007Q2 2007Q3 2007Q4 2008Q1 2008Q2 2008Q3 2008Q4 2009Q1 2009Q2 2009Q3 2009Q4 2010Q1 2010Q2 2010Q3 2010Q4 2011Q1 2011Q2 2011Q3 2011Q4 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1 2013Q2 2013Q3 2013Q4 2014Q1 2014Q2 2014Q3 2014Q4 2015Q1 99/ June 2015 Second estimate for the first quarter of 2015 GDP up by 0.4% in both the euro area and the EU % and +1.5% respectively compared with the first quarter of 2014 Seasonally adjusted GDP rose by 0.4% in both the euro area 1 (EA19) and the EU28 1 during the first quarter of 2015, compared with the previous quarter, according to a second estimate 2 published by Eurostat, the statistical office of the European Union. In the fourth quarter of 2014, GDP also grew by 0.4% in both areas. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.0% in the euro area and by 1.5% in the EU28 in the first quarter of 2015, after +0.9% and +1.4% respectively in the previous quarter. During the first quarter of 2015, GDP in the United States decreased by 0.2% compared with the previous quarter (after an increase of 0.5% in the fourth quarter of 2014). Compared with the same quarter of the previous year, GDP grew by 2.7% (after +2.4% in the previous quarter). EU28, euro area and United States GDP growth rates % change over the previous quarter 3 2 EA19 EU28 United States
2 Lithuania Estonia Greece Finland Croatia Austria Belgium Germany Italy Latvia United Kingdom EA19 EU28 Denmark Netherlands Portugal Sweden France Hungary Slovenia Slovakia Bulgaria Spain Poland Cyprus Romania Czech Republic GDP growth by Member State Among Member States for which data are available for the first quarter of 2015, the Czech Republic (+3.1%), Cyprus and Romania (both +1.6%) recorded the highest growth compared with the previous quarter, followed by Poland (+1.0%), Bulgaria and Spain (both +0.9%), Hungary, Slovenia and Slovakia (all +0.8%). Decreases were registered in Lithuania (-0.6%), Estonia (-0.3%), Greece (-0.2%) and Finland (-0.1%) EU28, euro area and Member States' GDP growth rates in the first quarter of 2015 % change over the previous quarter Ireland, Luxembourg and Malta: data not available for the first quarter of GDP components and contributions to growth During the first quarter of 2015, household 3 final rose by 0.5% in both the euro area and the EU28 (after +0.4% and +0.5 respectively in the previous quarter). Gross fixed capital formation increased by 0.8% in both the euro area and the EU28 (after 0.4% in both zones). Exports rose by 0.6% in both the euro area and the EU28 (after +0.8% and +1.4%). Imports increased by 1.2% in the euro area and by 1.4% in the EU28 (after +0.8% and +1.1%). Household final had a positive contribution to GDP growth both in the euro area and the EU28 (+0.3 percentage points). Gross fixed capital formation had also a positive contribution to GDP growth in both areas (+0.2 pp). The contribution of the external balance to GDP growth was negative for both zones, while the contribution of changes in inventories was positive.
3 Growth rates of GDP in volume (based on seasonally adjusted* data) Percentage change compared with the previous quarter Percentage change compared with the same quarter of the previous year Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 EA EA EU Member States Belgium Bulgaria Czech Republic Denmark Germany Estonia Ireland : : Greece Spain France Croatia Italy Cyprus Latvia Lithuania Luxembourg : : : : Hungary Malta : : Netherlands** Austria Poland Portugal Romania Slovenia Slovakia Finland Sweden United Kingdom Other countries Iceland : : Norway : : Switzerland : : United States : Data not available. * The seasonal adjustment does not include a working-day correction for Ireland, Slovakia and Iceland. ** Percentage change compared with the same quarter of the previous year calculated from working-day adjusted data.
4 1. 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. 2. European quarterly national accounts are compiled in accordance with the European System of Accounts 2010 (ESA 2010). The second estimates of first quarter of 2015 GDP growth presented in this release are based on Member States data as available, covering 98% of euro area GDP (98% of EU28 GDP). A flash estimation of GDP growth was published in News Release 84/2015 issued on 13 May This was based on a more limited data set than the one used for the present News Release and, additionally, on flash estimates for some Member States, which have now been revised. The published GDP growth rates for the first quarter of 2015 compared with the previous quarter, which had been estimated at +0.4% for both the euro area and the EU28, remain unchanged for both zones in the present release. Compared with the first quarter of 2014, GDP growth, which had been estimated at +1.0% for the euro area and +1.4% for the EU28, remains unchanged for the euro area and increases to 1.5% for the EU28. More data on European quarterly national accounts are available on Eurostat s website ("Statistics Database" / Database / Economy and Finance / National Accounts ). Additional general information on European national accounts is given in the metadata files linked to the data tables as well as in the following Statistics Explained article: _measuring_quarterly_gdp. 3. NPISH (Non-profit institutions serving households) included. Issued by: Eurostat Press Office Vincent BOURGEAIS Tel: For further information on data: Christine GERSTBERGER Tel: Júlio CABEÇA Tel: Media requests: Eurostat media support / Tel: /
5 T1 GDP AND EXPENDITURE COMPONENTS PERCENTAGE CHANGE OVER THE PREVIOUS QUARTER AND THE SAME QUARTER OF THE PREVIOUS YEAR SEASONALLY ADJUSTED CHAIN-LINKED VOLUMES GDP Household & NPISH final Government final Gross Fixed Capital Formation Exports Imports t/t-1 EA t/t-1 EU t/t-4 EA t/t-4 EU T2 CONTRIBUTIONS OF EXPENDITURE COMPONENTS TO VARIATION IN GDP (in percentage points) GDP VOLUME VARIATION OVER THE PREVIOUS QUARTER AND THE SAME QUARTER OF THE PREVIOUS YEAR SEASONALLY ADJUSTED Change in Inventories* Household & NPISH final Government final Gross Fixed Capital Formation Exports Imports t/t-1 EA t/t-1 EU t/t-4 EA t/t-4 EU T3 Levels GDP AND EXPENDITURE COMPONENTS FIRST QUARTER IN MILLIONS OF EURO - SEASONALLY ADJUSTED - AT CURRENT PRICES Household & Government final NPISH final Gross Fixed Change in GDP consumption consumption Capital Formation Inventories* expenditure expenditure Domestic Demand Exports Imports External Balance EA EU * Change in inventories includes acquisitions less disposals of valuables.
6 T4a GROSS VALUE ADDED BY INDUSTRY** PERCENTAGE CHANGE AND LEVELS IN MILLIONS OF EURO SEASONALLY ADJUSTED CHAIN-LINKED VOLUMES Total Gross Value Added (A*10) Agriculture, forestry and fishing Industry (mining, manufacturing, electricity, water and waste) of which: Manufacturing Construction Trade, transport, accommodation and food service activities A B, C, D and E C F G, H and I t/t-1 EA t/t-1 EU t/t-4 EA t/t-4 EU Q Q Q Q Q Q1 level EA19 2,306, , , , , ,568.2 level EU28 3,201, , , , , ,985.3 T4b GROSS VALUE ADDED BY INDUSTRY** PERCENTAGE CHANGE AND LEVELS IN MILLIONS OF EURO SEASONALLY ADJUSTED CHAIN-LINKED VOLUMES Financial and insurance activities Real estate activities Professional and support service activities Administration and other public services Arts, entertainment and other services J K L M and N O, P and Q R, S, T and U t/t-1 EA t/t-1 EU t/t-4 EA t/t-4 EU Q Q Q Q Q Q1 level EA19 103, , , , , ,480.2 level EU28 154, , , , , ,359.4 ** Breakdown into 10 industries according to NACE Rev. 2
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