Euro area GDP down by 0.2% and EU27 down by 0.1%

GDP fell by 0.2% in the euro area1 (EA17) and by 0.1% in the EU271 during the first quarter of 2013, compared with the previous quarter, according to second estimates2 published by Eurostat, the statistical office of the European Union.

In the fourth quarter of 2012, growth rates were -0.6% and -0.5% respectively. Compared with the same quarter of the previous year, GDP fell by 1.1% in the euro area and by 0.7% in the EU27 in the first quarter of 2013, after -1.0% and -0.7% respectively in the previous quarter.

During the first quarter of 2013, GDP in the United States grew by 0.6% compared with the previous quarter (after +0.1% in the fourth quarter of 2012). Compared with the same quarter of the previous year, GDP rose by 1.8% (after +1.7% in the previous quarter).

Among Member States for which data are available for the first quarter of 2013, Lithuania (+1.3%), Latvia(+1.2%), Hungary and Romania (both +0.7%) recorded the highest growth compared with the previous quarter, and Cyprus (-1.3%), the Czech Republic (-1.1%) and Estonia (-1.0%) the largest decreases.

 Eurostat