GDP up by 0.4% in both euro area and EU, +2.1% in both areas compared with the second quarter of 2017
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date: 13/09/2018
Seasonally adjusted GDP rose by 0.4% in both the euro area and the EU during the second quarter of 2018, compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the EU. In the first quarter of 2018, GDP had also grown by 0.4% in both areas. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 2.1% in both the euro area and the EU in the second quarter of 2018, after +2.4% and +2.3% respectively in the previous quarter. Among Member States for which data are available for the second quarter of 2018, Malta (+1.9%), Estonia and Romania (both +1.4%) recorded the highest growth compared with the previous quarter, while the lowest growth was observed in Denmark, Greece, France and Italy (all +0.2%). Household final consumption expenditure had a positive contribution to GDP growth in both the euro area and the EU (+0.1 and +0.2 percentage points – pp respectively) and the contribution from gross fixed capital formation was also positive in both areas (+0.3 pp and +0.2 pp respectively). The contribution of the external balance to GDP growth was negative for both areas while the contribution of changes in inventories was positive for both areas.