According to the second estimates released by Eurostat, the statistical office of the European Union, during the second quarter of the current year gross domestic product (GDP) increased by 0.3 percent both in the euro area and in the EU-27, compared to the previous quarter. In the first quarter of the year, GDP had decreased 0.3 percent in the euro area and by 0.1 percent in the EU-27, on quarter-on-quarter basis.
Compared with the same quarter of 2012, in the second quarter this year seasonally adjusted GDP decreased by 0.7 percent in the euro area and by 0.2 percent in the EU-27, after respectively falling 1.1 percent and 0.7 percent year on year in the previous quarter.
Meanwhile, in the second quarter this year GDP in the United States rose by 0.4 percent quarter on quarter.