GDP fell by 0.1% in the euro area (EA16) and by 0.2% in the EU27 during the second quarter of 2009, compared with the previous quarter, according to first estimates released by Eurostat, the Statistical Office of the European Communities. In the first quarter of 2009, growth rates were -2.5% in the euro area and -2.4% in the EU27.

Compared with the second quarter of 2008, seasonally adjusted GDP declined by 4.7% in the euro area and by 4.8% in the EU27, after -4.9% and -4.8% respectively for the previous quarter.

Variation in components of GDP

During the second quarter of 2009, household final consumption expenditure increased by 0.2% in the euro area and remained stable in the EU27 (after -0.5% and -0.9% respectively in the previous quarter). Investments fell by 1.3% in the euro area and by 1.9% in the EU27 (after -5.3% and -5.7%). Exports decreased by 1.1% in the euro area and by 1.5% in the EU27 (after -8.8% and -8.3%). Imports dropped by 2.8% in both the euro area and the EU27 (after -7.8% and -8.3%).

US GDP decreased, Japanese GDP increased

In the United States GDP decreased by 0.3% during the second quarter of 2009 after -1.6% in the first quarter of 2009. In Japan GDP increased by 0.9% in the second quarter of 2009 after -3.1% in the previous quarter.

Compared with the second quarter of 2008, GDP declined by 3.9% in the United States (after -3.3% in the previous quarter) and by 6.5% in Japan (after -8.3%).