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

Compared with the second quarter of 2009, seasonally adjusted GDP increased by 1.9% in both the euro area and the EU27, after +0.8% and +0.7% respectively for the previous quarter.

Variation in components of GDP

During the second quarter of 2010, household final consumption expenditure increased by 0.5% in both the euro area and the EU27 (after +0.2% and +0.1% respectively in the previous quarter).

Investments increased by 1.8% in the euro area and by 1.7% in the EU27 (after -0.4% and -0.6% respectively). Exports increased by 4.4% in the euro area and by 4.0% in the EU27 (after +2.4% and +2.0%). Imports increased by 4.4% in the euro area and by 4.0% in the EU27 (after +4.0% and +3.6%).

US and Japanese GDP

In the United States GDP increased by 0.4% during the second quarter of 2010, after +0.9% in the first quarter of 2010. In Japan GDP increased by 0.1% in the second quarter of 2010, after +1.1% in the previous quarter.

Compared with the second quarter of 2009, GDP increased by 3.0% in the United States (after +2.4% in the previous quarter) and by 1.9% in Japan (after +4.4%).