Seasonally adjusted gross domestic product (GDP) increased by 0.2 percent in the EU28 region, during the second quarter of 2014, compared with the previous quarter, according to second estimates published by Eurostat, the statistical office of the European Union.
The estimate on GDP for the second quarter is the last to be based on the ESA95 methodology, and the estimate for the third quarter of 2014 will be the first to be based on ESA 2010 methodology, Eurostat said. In the first quarter of 2014, GDP grew by 0.3 percent in the EU28.
Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.2 percent in the EU28 in the second quarter of 2014, after +1.4 percent in the previous quarter. Among EU28 Member States for which data are available for the second quarter of 2014, Malta (+1.3%), Latvia and Slovenia (both +1.0%), Lithuania, Hungary and the United Kingdom (all +0.8%) recorded the highest growth compared with the previous quarter. Romania (-1.0%), Denmark and Cyprus (both -0.3%), Germany and Italy (both -0.2%) registered decreases.
During the second quarter of 2014, exports rose by 0.3 percent in the EU28 (after +0.5% in the previous quarter), while imports increased by 0.4 percent (after +1.2%). Meanwhile, during the second quarter of 2014, GDP in the United States increased by 1.0 percent compared with the previous quarter (after -0.5% in the first quarter of 2014). Compared with the same quarter of the previous year, GDP grew by 2.5% (after +1.9% in the previous quarter). (RKS)