During the first quarter of 2013, household final consumption expenditure rose by 0.1 percent in both the Euro Area and the EU27 (after -0.6 percent and -0.3 percent respectively in the previous quarter). Gross fixed capital formation dropped by 1.6 percent in the Euro Area and by 1.4 percent in the EU27 (after -1.4 percent and -1.2 percent). Exports decreased by 0.8 percent in the Euro Area after -0.9 percent and imports declined by 1.1 percent in after -1.2 percent.
In both the Euro Area and the EU27, gross fixed capital formation contributed negatively to GDP growth (-0.3 percentage points and -0.2 pp respectively), while the contributions of household final consumption expenditure and change in inventories were neutral in the euro area (0.0 pp each) and slightly positive in the EU27 (+0.1 pp each).
The annual growth rate was revised down to -1.1 percent in the January to March period from an estimate of -1.0 percent. In Q4 of 2012, the GDP shrank 1.0 percent year-on-year.