Euro Area GDP Growth Confirmed at 0.3%


In the last quarter of 2013, Euro Area’s GDP growth accelerated to 0.3 percent over the previous quarter, matching initial estimates and boosted by investment and exports. The figure compares with 0.1 percent growth in the previous three-month period.

Household final consumption rose by 0.1 percent in the euro area and by 0.2 percent in the EU 28 (after +0.1 percent and +0.3 percent respectively in the previous quarter). 

Gross fixed capital formation increased by 1.1 percent in the euro area and by 1.4 percent in the EU 28 (after +0.6 percent and +0.7 percent). 

Exports rose by 1.2 percent in the euro area and by 1.1 percent in the EU 28 (after 0.0 percent and -0.1 percent). Imports increased by 0.4 percent in the euro area and by 0.2 percent in the EU 28 (after +1.0 percent and +1.1 percent).  

Among euro area mamber states, Netherlands (0.7 percent qoq), Portugal and Belgium (0.5 percent qoq each) and Germany (0.4 percent qoq) recorded the highest growth rates.

In the EU 28, the GDP rose 0.4 percent compared with the previous quarter. Among member states, Sweden (+1.7 percent), the Czech Republic (+1.6 percent), Romania (+1.5 percent), Lithuania and Slovenia (both +1.2 percent) recorded the highest growth compared with the previous quarter. Cyprus (-1.0 percent), Denmark (-0.5 percent), Finland (-0.3 percent) and Estonia (-0.1 percent) registered decreases.  

Compared with the same quarter of the previous year, the GDP rose by 0.5 percent in the euro area and by 1.1 percent in the EU 28 in the fourth quarter of 2013, after -0.3 percent and +0.2 percent respectively in the previous quarter.

Over the whole year 2013, the GDP fell by 0.5 percent in the euro area and rose by 0.1 percent in the EU 28. 


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
3/5/2014 10:25:43 AM