GDP up by 0.3% in euro area and by 0.4% in EU28

The FINANCIAL — Seasonally adjusted GDP rose by 0.3% in the euro area (EA19) and by 0.4% in the EU28 during the third quarter of 2015, compared with the previous quarter, according to a second estimate published by Eurostat, the statistical office of the European Union. In the second quarter of 2015, GDP grew by 0.4% and 0.5% respectively.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.6% in the euro area and by 1.9% in the EU28 in the third quarter of 2015, the same as in the previous quarter.

During the third quarter of 2015, GDP in the United States increased by 0.5% compared with the previous quarter (after +1.0% in the second quarter of 2015). Compared with the same quarter of the previous year, GDP grew by 2.2% (after +2.7% in the previous quarter).

Prominent Georgian Businessman Behind Euronews and National Geographic Arrested in Tbilisi

Global study shows 96% plan to increase yield focus in anticipation of market correction

AnaIysis Reveals Significant Focus on Private Assets by Insurers Using External Investment Managers

faceboo mmay hides the income from specific governments and extremist groups

GDP growth by Member State

Among Member States for which data are available for the third quarter of 2015, Romania (+1.4%), Croatia (+1.3%), Malta (+1.1%), Latvia (+1.0%), Poland and Slovakia (both +0.9%) recorded the highest growth compared with the previous quarter, followed by Spain and Sweden (both +0.8%). Decreases were registered in Greece (-0.9%), Estonia and Finland (both -0.5%) as well as Denmark (-0.1%).

GDP components and contributions to growth

During the third quarter of 2015, household final consumption expenditure rose by 0.4% in the euro area and by 0.5% in the EU28 (after +0.3% and +0.4% respectively in the previous quarter). Gross fixed capital formation remained stable in the euro area and rose by 0.3% in the EU28 (after +0.1% and +0.4%). Exports rose by 0.2% in the euro area and by 0.3% in the EU28 (after +1.6% and +1.3%). Imports increased by 0.9% in the euro area and by 1.4% in the EU28 (after +0.9% and +0.3%).

Household final consumption expenditure had a positive contribution to GDP growth both in the euro area and the EU28 (+0.2 and +0.3 percentage points). Gross fixed capital formation was neutral in the euro area (0.0 pp) and had a positive contribution to GDP growth in the EU28 (+0.1 pp). The contribution of the external balance to GDP growth was negative for both zones, while the contribution of changes in inventories was positive.