European economy grows one percent in Q2 compared to Q1

Friday, 13 August 2010 15:00:56 (GMT+2)

According to flash estimates released on August 13 by Eurostat, the Statistical Office of the European Communities, in the second quarter of 2010 the gross domestic product (GDP) of the European Union member states (EU-27) rose by one percent quarter on quarter. In the first quarter of 2010, the economy of the EU-27 had expanded by 0.2 percent from the previous quarter.

Accordingly, in comparison with the same quarter of the previous year, seasonally adjusted GDP in the EU-27 improved in the second quarter of 2010 by 1.7 percent, after a year-on-year increase of 0.5 percent in the previous quarter.
 
In the second quarter of 2010, among member states for which seasonally adjusted GDP data are available, Lithuania recorded the highest growth rate with an increase of 2.9 percent compared with the previous quarter, followed by Germany with 2.2 percent and Estonia with two percent.
 
In the given period, among the main economies of the EU, GDP rose 0.9 percent in Austria, increased by 1.1 percent in the UK, moved up by 0.6 percent in France, climbed up by 0.2 percent in Spain and rose 0.4 percent in Italy, all compared to Q1 2010.

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