Euro area (EA16) GDP was stable and EU27 GDP increased by 0.1% during the fourth quarter of 2009, compared with the previous quarter, according to second estimates from Eurostat, the statistical office of the European Union. In the third quarter of 2009, growth rates were +0.4% in the euro area and +0.3% in the EU27.

In comparison with the same quarter of the previous year, seasonally adjusted GDP declined in the fourth quarter of 2009 by 2.2% in the euro area and by 2.3% in the EU27, after -4.1% and -4.3% respectively in the previous quarter.

In the fourth quarter of 2009, among Member States for which seasonally adjusted GDP data are available, Estonia (+2.5%) recorded the highest growth rate compared with the previous quarter, followed by Slovakia (+2.0%) and Poland (+1.2%).

Variation in components of GDP

In the fourth quarter of 2009, household final consumption expenditure was stable in both the euro area and the EU27 (after -0.1% in both zones in the previous quarter). Investments fell by 1.3% in the euro area and by 1.6% in the EU27 (after -0.9% and -0.6%). Exports increased by 1.9% in both zones (after +2.9% and +2.7%). Imports increased by 1.3% in the euro area and by 1.6% in the EU27 (after +2.9% in both zones).

US GDP up by 1.4%, Japanese GDP up by 0.9%

Among the main partners of the EU, GDP increased by 1.4% in the US in the fourth quarter of 2009 (+0.6% in the previous quarter). In Japan GDP increased by 0.9% in the fourth quarter of 2009 (-0.1% in the previous quarter).

Compared with the fourth quarter of 2008, GDP increased by 0.1% in the US (-2.6% in the previous quarter) and decreased by 1.4% in Japan (-4.9% in the previous quarter).

In 2009 GDP decreased by 4.1% in the euro area and by 4.2% in the EU27

Over the whole of 2009, GDP decreased by 4.1% in the euro area and by 4.2% in the EU27, compared with +0.6% and +0.7% respectively for 2008.

Over the whole of 2009, GDP decreased by 2.4% in the US (+0.4% in 2008) and by 5.2% in Japan (-1.2% in 2008).