GDP increased by 0.4% in the euro area (EA16) and by 0.3% in the EU27 during the third quarter of 2009, compared with the previous quarter, according to first estimates released by Eurostat, the Statistical Office of the European Communities. In the second quarter of 2009, growth rates were -0.2% in the euro area and -0.3% in the EU27.

Compared with the third quarter of 2008, seasonally adjusted GDP declined by 4.1% in the euro area and by 4.3% in the EU27, after -4.8% and -5.0% respectively for the previous quarter.

Variation in components of GDP

During the third quarter of 2009, household final consumption expenditure decreased by 0.2% in both the euro area and the EU27 (after 0.0% and -0.1% respectively in the previous quarter).
Investments fell by 0.4% in the euro area and by 0.5% in the EU27 (after -1.7% and -2.5%). Exports increased by 2.9% in the euro area and by 2.4% in the EU27 (after -1.3% and -1.4%). Imports increased by 2.6% in the euro area and by 2.4% in the EU27 (after -2.9% in both zones).

US and Japanese GDP increased

In the United States GDP increased by 0.7% during the third quarter of 2009, after -0.2% in the second quarter of 2009. In Japan GDP increased by 1.2% in the third quarter of 2009, after +0.7% in the previous quarter.

Compared with the third quarter of 2008, GDP declined by 2.5% in the United States (after -3.8% in the previous quarter) and by 4.4% in Japan (after -7.1%).