Euro area (EA16) GDP fell by 0.2% and EU27 GDP by 0.3% during the second quarter of 2009, compared with the previous quarter, according to second estimates from 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.

In comparison with the same quarter of the previous year, seasonally adjusted GDP declined in the second quarter of 2009 by 4.8% in the euro area and by 4.9% in the EU27, after -4.9% and -4.8% respectively in the previous quarter.

In the second quarter of 2009, among Member States for which seasonally adjusted GDP data are available, Slovakia (+2.2%) recorded the highest growth rate compared with the previous quarter, followed by Slovenia (+0.7%) and Poland (+0.5%).

Variation in components of GDP

In the second quarter of 2009, household final consumption expenditure increased by 0.1% in the euro area and decreased by 0.1% in the EU27 (after -0.5% and -0.9% respectively in the previous quarter). Investments fell by 1.5% in the euro area and by 2.3% in the EU27 (after -5.4% and -6.0%). Exports fell by 1.5% in the euro area and by 1.7% in the EU27 (after -9.2% and -8.6%). Imports decreased by 2.9% in both zones (after -7.9% and -8.3%).

US GDP down by 0.2%, Japanese GDP up by 0.6%

Among the main partners of the EU, GDP decreased by 0.2% in the US in the second quarter of 2009 (-1.6% in the previous quarter). In Japan GDP increased by 0.6% in the second quarter of 2009 (-3.3% in the previous quarter).

Compared with the second quarter of 2008, GDP declined by 3.8% in the US (-3.3% in the previous quarter) and decreased by 7.2% in Japan (-8.4% in the previous quarter).