According to first estimates released today by Eurostat, the Statistical Office of the European Communities, in the third quarter (Q3) GDP increased by 0.4% in the Eurozone and by 0.3% in the EU when compared with the previous quarter. In Q2 of 2009, growth rates were -0.2% in the Eurozone and -0.3% in the EU (compared with Q1 2009).
When compared with Q3 of 2008, seasonally adjusted GDP declined by 4.1% in the Eurozone and by 4.3% in the EU (the figures were -4.8% for the Eurozone and -5.0% for the EU for Q2 2009 compared with Q2 2008).
Components of the Q3 2009 GDP
Household final consumption expenditure decreased by 0.2% in both the Eurozone and the EU27 (after 0.0% and -0.1% respectively in Q2 2009).
Investments fell by 0.4% in the Eurozone and by 0.5% in the EU (after -1.7% and -2.5%).
Exports increased by 2.9% in the Eurozone and by 2.4% in the EU (after -1.3% and -1.4%).
Imports increased by 2.6% in the Eurozone and by 2.4% in the EU (after -2.9% in both zones).