Q2 GDP increases in US and Japan, decreases in Eurozone

Q2 GDP increases in US and Japan, decreases in Eurozone

The Statistical Office of the European Communities, Eurostat has released data regarding gross domestic product (GDP) figures of Eurozone, the EU, the US and Japan last week. According to the statistical information, during the second quarter of 2003, GDP surged by 0.8% in the US and 1.0% in Japan, decreased by 0.1% in Eurozone and remained stable in the EU with 0.0% when compared to previous quarter of this year. With data on hand, GDP increased all in Eurozone with 0.2%, the EU with 0.5%, the US with 2.5% and Japan with 3.0% over same quarter of 2002. For the second quarter of this year, GDP in six of EU member states declined and Denmark and Netherlands recorded the highest decrease with 0.6%, whereas Spain recorded the highest increase with a 0.7% growth rate. When compared to second quarter of the previous year, Spain is the second country recording the highest growth rate with 2.3% after Greece which shows an increase of 4.5%. Meanwhile, Portugal records the highest decrease with 2.3% among Netherlands, Denmark, France and Germany.