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For additional information relating to this article, please contact:

Barbara Ruszel Economist
Tel: 902-424-1848Email: Basia.Ruszel-Lichodzijewska@novascotia.ca

December 07, 2017
EU AND EURO AREA GDP, Q3 2017 [PRELIMINARY]

Real GDP rose by 2.4 per cent (seasonally adjusted annualized rate) in the euro area (EA19) and 2.4 per cent in the European Union (EU28) during the third quarter of 2017, compared with the previous quarter.  Last quarter, both EA19 GDP and EU28 GDP were up 2.8 per cent on an annualized basis. Comparing Q3 2017 with Q3 2016, seasonally adjusted GDP rose by 2.6 per cent in both euro area the EU28.

The European Union (EU28) had household and government final consumption expenditures growing at similar rates as previous quarters. Gross fixed capital formation and exports made smaller contributions to growth than during the previous quarter. Imports increased in the quarter.

 

In the Euro Area, household consumption expenditures growth slowed to 0.3 per cent in Q3 compared to 0.5 per cent average pace over the past three quarters. Capital formation in the EA19 at 1.1 per cent was slower than last quarter’s 2.2 per cent growth. Exports and imports continued to trend upwards. 

 

Source: Eurostat



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