Euro area (EA16) and EU27 GDP increased by 1.0% during the second quarter of 2010, compared with the previous quarter, according to second estimates from Eurostat, the statistical office of the European Union. In the first quarter of 2010, growth rates were +0.3% in the euro area and +0.4% in the EU27.

In comparison with the same quarter of the previous year, seasonally adjusted GDP increased in the second quarter of 2010 by 1.9% in the euro area and by 2.0% in the EU27, after +0.8% and +0.7% respectively in the previous quarter.

In the second quarter of 2010, Lithuania (+3.2%) recorded the highest growth rate compared with the previous quarter, followed by Germany (+2.2%), Estonia, Finland and Sweden (all +1.9%).

Variation in components of GDP

In the second quarter of 2010, household2 final consumption expenditure increased by 0.2% in both the euro area and the EU27 (after +0.2% and +0.3% respectively in the previous quarter). Investments increased by 1.5% in the euro area and by 1.8% in the EU27 (after -0.3% and -0.6%). Exports increased by 4.3% in the euro area and by 4.1% in the EU27 (after +2.5% and +2.2%). Imports increased by 4.0% in the euro area and by 3.8% in the EU27 (after +4.2% and +3.8%).

US and Japanese GDP up by 0.4%

Among the main partners of the EU, GDP increased by 0.4% in the US in the second quarter of 2010 (+0.9% in the previous quarter). In Japan GDP also increased by 0.4% in the second quarter of 2010 (after +1.2%).

Compared with the second quarter of 2009, GDP increased by 3.0% in the US (+2.4% in the previous quarter) and by 2.4% in Japan (after +4.4%).