STAT/10/101
7 July 2010
Second estimates for the first quarter of 2010
Euro area and EU27 GDP up by 0.2%
+0.6% and +0.5% respectively compared with the first quarter of 2009
Euro area1 (EA16) and EU271 GDP both increased by 0.2% during the first quarter of 2010, compared with the previous quarter, according to second estimates from Eurostat, the statistical office of the European Union. In the fourth quarter of 2009, growth rates were +0.1% in the euro area and +0.2% in the EU27.
In comparison with the same quarter of the previous year, seasonally adjusted GDP rose in the first quarter of 2010 by 0.6% in the euro area and by 0.5% in the EU27, after -2.1% and -2.3% respectively in the previous quarter.
In the first quarter of 2010, among Member States for which seasonally adjusted GDP data are available, Ireland (+2.7%) recorded the highest growth rate compared with the previous quarter, followed by Sweden (+1.4%) and Portugal (+1.1%).
Variation in components of GDP
In the first quarter of 2010, household2 final consumption expenditure decreased by 0.1% in both the euro area and the EU27 (after +0.2% in both zones in the previous quarter). Investments fell by 1.2% in the euro area and by 1.3% in the EU27 (after -1.2% and -1.5% respectively). Exports increased by 2.1% in the euro area and by 2.0% in the EU27 (after +1.8% and +1.9%). Imports rose by 3.8% in the euro area and by 3.4% in the EU27 (after +1.2% and +1.6%).
US GDP up by 0.7%, Japanese GDP up by 1.2%
Among the main partners of the EU, GDP increased by 0.7% in the US in the first quarter of 2010 (+1.4% in the previous quarter). In Japan GDP grew by 1.2% in the first quarter of 2010 (+1.1% in the previous quarter).
Compared with the first quarter of 2009, GDP rose by 2.4% in the US (+0.1% in the previous quarter) and by 4.2% in Japan (-1.4% in the previous quarter).
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 | ||||||||||
2009 | 2010 | Previously released value* | 2009 | 2010 | Previously released value* | ||||||
Q2 | Q3 | Q4 | Q1Q3 | 2010 Q1 | Q2 | Q3 | Q4 | Q1 | 2010 Q1 | ||
EA16 | -0.1 | 0.4 | 0.1 | 0.2 | (0.2) | -4.9 | -4.1 | -2.1 | 0.6 | (0.6) | |
EU27 | -0.2 | 0.3 | 0.2 | 0.2 | (0.2) | -5.1 | -4.3 | -2.3 | 0.5 | (0.5) | |
EU Member States | |||||||||||
Belgium | -0.1 | 0.7 | 0.3 | 0.1 | (0.1) | -4.1 | -3.2 | -0.8 | 1.0 | (1.0) | |
Bulgaria** | : | : | : | : | : | -4.9 | -5.4 | -5.9 | -3.6 | (-4.0) | |
Czech Republic | -0.5 | 0.5 | 0.5 | 0.5 | (0.2) | -4.7 | -4.4 | -3.2 | 1.1 | (1.2) | |
Denmark | -1.8 | 0.6 | 0.2 | 0.5 | (0.6) | -6.8 | -5.3 | -2.9 | -0.6 | (-0.6) | |
Germany | 0.4 | 0.7 | 0.2 | 0.2 | (0.2) | -5.8 | -4.8 | -2.2 | 1.5 | (1.5) | |
Estonia** | -2.1 | -0.2 | 2.4 | -2.0 | (-2.3) | -16.1 | -15.6 | -9.5 | -2.0 | (-2.3) | |
Ireland | -0.3 | -0.2 | -2.7 | 2.7 | : | -7.7 | -7.7 | -5.6 | -0.6 | : | |
Greece | -0.3 | -0.5 | -0.8 | -1.0 | (-0.8) | -1.9 | -2.5 | -2.5 | -2.5 | (-2.3) | |
Spain | -1.0 | -0.3 | -0.1 | 0.1 | (0.1) | -4.2 | -4.0 | -3.1 | -1.3 | (-1.3) | |
France | 0.2 | 0.3 | 0.6 | 0.1 | (0.1) | -3.1 | -2.6 | -0.5 | 1.2 | (1.2) | |
Italy | -0.3 | 0.4 | -0.1 | 0.4 | (0.5) | -6.1 | -4.7 | -2.8 | 0.5 | (0.6) | |
Cyprus | -0.9 | -0.7 | -0.3 | 0.1 | (-0.2) | -1.8 | -2.6 | -2.7 | -1.7 | (-2.3) | |
Latvia | -0.1 | -3.8 | -1.5 | 0.3 | (0.3) | -16.9 | -19.3 | -16.8 | -5.1 | (-5.1) | |
Lithuania | -1.0 | 1.0 | 1.3 | -3.9 | (-3.9) | -16.6 | -14.7 | -12.5 | -2.6 | (-2.6) | |
Luxembourg | -1.6 | 4.8 | -0.2 | : | : | -7.6 | -1.1 | 1.4 | : | : | |
Hungary | -1.4 | -0.6 | 0.2 | 0.9 | (0.9) | -7.2 | -6.8 | -4.6 | -0.9 | (-0.8) | |
Malta | -0.1 | 0.5 | 1.0 | 0.8 | : | -2.2 | -1.5 | 0.7 | 2.3 | : | |
Netherlands** | -1.0 | 0.6 | 0.5 | 0.3 | (0.2) | -5.3 | -3.7 | -2.2 | 0.6 | (0.1) | |
Austria | -0.5 | 0.7 | 0.3 | -0.1 | (0.0) | -4.6 | -3.3 | -1.7 | 0.4 | (0.5) | |
Poland | 0.6 | 0.6 | 1.1 | 0.5 | (0.5) | 1.4 | 1.4 | 2.8 | 2.8 | (2.8) | |
Portugal | 0.7 | 0.2 | -0.1 | 1.1 | (1.0) | -3.1 | -2.3 | -1.0 | 1.8 | (1.7) | |
Romania | -1.5 | 0.1 | -1.5 | -0.3 | (-0.3) | -8.0 | -7.6 | -6.9 | -3.2 | (-3.2) | |
Slovenia | -0.1 | 0.1 | -0.3 | -0.5 | (-0.5) | -8.8 | -8.8 | -6.3 | -0.8 | (-0.8) | |
Slovakia | 0.8 | 1.2 | 1.7 | 0.8 | (0.8) | -5.1 | -5.2 | -3.9 | 4.5 | (4.5) | |
Finland | -0.4 | 0.5 | -0.2 | -0.4 | : | -9.6 | -8.4 | -5.4 | -0.6 | : | |
Sweden | 0.7 | 0.3 | 0.4 | 1.4 | (1.4) | -6.1 | -5.8 | -1.5 | 2.9 | (2.9) | |
United Kingdom | -0.7 | -0.3 | 0.4 | 0.3 | (0.3) | -5.9 | -5.3 | -3.1 | -0.2 | (-0.2) | |
EFTA Countries | |||||||||||
Iceland | -2.7 | -5.4 | 0.7 | 0.6 | : | -4.7 | -10.9 | -7.9 | -6.8 | : | |
Norway | -1.1 | 0.5 | 0.1 | -0.1 | (-0.1) | -2.4 | -1.2 | -1.3 | -0.5 | (-0.5) | |
Switzerland | -0.1 | 0.5 | 0.8 | 0.4 | (0.4) | -2.4 | -1.4 | 0.1 | 1.7 | (1.7) | |
Main economic partners | |||||||||||
United States | -0.2 | 0.6 | 1.4 | 0.7 | (0.8) | -3.8 | -2.6 | 0.1 | 2.4 | (2.5) | |
Japan | 1.7 | 0.1 | 1.1 | 1.2 | (1.2) | -6.0 | -4.9 | -1.4 | 4.2 | (4.2) | |
: Data not available.
* See News Release 81/2010 of 4 June 2010.
** Percentage change compared with the same quarter of the previous year calculated from non-seasonally adjusted data.
The euro area (EA16) consists of Belgium, Germany, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
The EU27 includes Belgium (BE), Bulgaria (BG), the Czech Republic (CZ), Denmark (DK), Germany (DE), Estonia (EE), Ireland (IE), Greece (EL), Spain (ES), France (FR), Italy (IT), Cyprus (CY), Latvia (LV), Lithuania (LT), Luxembourg (LU), Hungary (HU), Malta (MT), the Netherlands (NL), Austria (AT), Poland (PL), Portugal (PT), Romania (RO), Slovenia (SI), Slovakia (SK), Finland (FI), Sweden (SE) and the United Kingdom (UK).
NPISH (Non-profit institutions serving households) included.
Summary quality information:
European quarterly national accounts are compiled in accordance with the European System of Accounts 1995 (ESA95). Estimates for the euro area and EU27 are based on Member States’ data as available, covering 100% of euro area GDP (100% of EU27 GDP). Coverage for the components of GDP may be smaller. These data are seasonally adjusted (and in most cases also corrected for working days) according to national adjustment procedures. Seasonally adjusted European aggregates are calculated from seasonally adjusted Member States’ data (indirect seasonal adjustment).
The euro area and EU27 growth rates published today constitute the second estimation for the first quarter 2010. The first estimation was published in the News Release 81/2010 of 4 June 2010. This was based on a more limited data set than the one used for the present News Release and, additionally, on first estimates for some Member States, which have now been revised. The published growth rate of GDP for the first quarter 2010 compared with the previous quarter, which had been estimated at +0.2% in both the euro area and the EU27, remains unchanged in both zones. Compared with the first quarter 2009, GDP growth that had been estimated at +0.6% in the euro area and at +0.5% in the EU27, remains unchanged in both zones.
With this second regular estimate, previously published euro area and EU27 figures are subject to revision for all variables and all quarters. The next release of quarterly GDP on 13 August 2010 will give a flash estimate for growth in the second quarter 2010. Figures presented in this release may be revised again with the following first regular estimate for the second quarter 2010, scheduled for 2 September 2010. A full release calendar is available on the Eurostat website (Release Calendar).
Further data on the income breakdown of GDP, in particular compensation of employees by industry and gross operating surplus, on national income and saving and on employment are available on Eurostat’s website (“Data”/“Economy and Finance”/“National Accounts”). Also there, additional general information on European Quarterly National Accounts is given in the metadata files linked to the data tables.
Issued by: Eurostat Press Office Tim ALLEN Tel: +352-4301-33 444 eurostat-pressoffice@ec.europa.eu Eurostat news releases on the internet: | For further information on data: Jukka JALAVA Tomas DUCHON Tel: +352-4301-38 435 +352-4301-32 383 |
Selected Principal European Economic Indicators: http://ec.europa.eu/eurostat/euroindicators
