According to the flash estimates released by Eurostat, the statistical office of the
European Union, during the fourth quarter last year gross domestic product (GDP) increased by 0.3 percent in the euro area and by 0.4 percent in the EU-28, compared to the previous quarter. In the third quarter last year, GDP had increased by 0.1 percent in the euro area and by 0.3 percent in the EU-28, on quarter-on-quarter basis.
Compared with the same quarter of 2012, in the fourth quarter this year seasonally adjusted GDP increased by 0.5 percent in the euro area and rose by one percent in the EU-28, after respectively falling 0.3 percent and rising 0.2 percent year on year in the previous quarter.
Meanwhile, in the fourth quarter last year GDP in the United States rose by 0.8 percent quarter on quarter and increased by 2.7 percent compared with the same quarter of 2012.