Brussels – Seasonally adjusted GDP rose by 0.3% in the euro area (EA19) and by 0.4% in the EU28 during the third quarter of 2015, compared with the previous quarter, according to a second estimate published by Eurostat, the statistical office of the European Union. In the second quarter of 2015, GDP grew by 0.4% and 0.5% respectively. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.6% in the euro area and by 1.9% in the EU28 in the third quarter of 2015, the same as in the previous quarter. During the third quarter of 2015, GDP in the United States increased by 0.5% compared with the previous quarter (after +1.0% in the second quarter of 2015). Compared with the same quarter of the previous year, GDP grew by 2.2% (after +2.7% in the previous quarter).
GDP growth by Member State
Among Member States for which data are available for the third quarter of 2015, Romania (+1.4%), Croatia (+1.3%), Malta (+1.1%), Latvia (+1.0%), Poland and Slovakia (both +0.9%) recorded the highest growth compared with the previous quarter, followed by Spain and Sweden (both +0.8%). Decreases were registered in Greece (-0.9%), Estonia and Finland (both -0.5%) as well as Denmark (-0.1%).
GDP components and contributions to growth
During the third quarter of 2015, household final consumption expenditure rose by 0.4% in the euro area and by 0.5% in the EU28 (after +0.3% and +0.4% respectively in the previous quarter). Gross fixed capital formation remained stable in the euro area and rose by 0.3% in the EU28 (after +0.1% and +0.4%). Exports rose by 0.2% in the euro area and by 0.3% in the EU28 (after +1.6% and +1.3%). Imports increased by 0.9% in the euro area and by 1.4% in the EU28 (after +0.9% and +0.3%). Household final consumption expenditure had a positive contribution to GDP growth both in the euro area and the EU28 (+0.2 and +0.3 percentage points). Gross fixed capital formation was neutral in the euro area (0.0 pp) and had a positive contribution to GDP growth in the EU28 (+0.1 pp). The contribution of the external balance to GDP growth was negative for both zones, while the contribution of changes in inventories was positive.
