GDP down by 0.1% in the euro area and up by 0.1% in the EU27-0.6% and -0.4% respectively compared with the third quarter of 2011

GDP fell by 0.1% in the euro area1 (EA17) and increased by 0.1% in the EU271 during the third quarter of 2012, compared with the previous quarter, according to second estimates published by Eurostat, the statistical office of the European Union. In the second quarter of 2012, growth rates were -0.2% in both zones.

Compared with the same quarter of the previous year, seasonally adjusted GDP fell by 0.6% in the euro area and by 0.4% in the EU27 in the third quarter of 2012, after -0.5% and -0.3% respectively in the previous quarter.

Variation in components of GDP
During the third quarter of 2012, household2 final consumption expenditure remained stable in the euro area and increased by 0.1% in the EU27 (after -0.4% and -0.3% respectively in the previous quarter). Gross fixed capital formation fell by 0.7% in the euro area and by 0.6% in the EU27 (after -1.8% and -1.7%). Exports rose by 0.9% in both zones (after +1.6% and +1.2%), while imports increased by 0.2% in the euro area and by 0.1% in the EU27 (after +0.6% and +0.7%).

US and Japanese GDP
During the third quarter of 2012, GDP increased by 0.7% in the United States compared with the previous quarter (after +0.3% in the second quarter of 2012), but fell by 0.9% in Japan (after +0.1%).

Compared with the same quarter of the previous year, GDP rose by 2.5% in the United States (after +2.1% in the previous quarter) and by 0.2% in Japan (after +3.4%).

Source - Euro Stat