According to the flash estimates released by Eurostat, the statistical office of the European Union, during the second quarter of this year gross domestic product (GDP) increased by 0.4 percent in both the euro area and the EU-28 compared to the previous quarter. In the first quarter of this year, GDP had increased by 0.5 percent both in the euro area and in the EU-28, on quarter-on-quarter basis.
Compared with the same quarter of 2014, in the second quarter this year seasonally adjusted GDP increased by 1.5 percent in the euro area and rose by 1.9 percent in the EU-28, after respectively increasing by 1.2 percent and 1.7 percent year on year in the previous quarter.
Meanwhile, in the second quarter this year GDP in the United States increased by 0.9 percent quarter on quarter and rose by three percent year on year.