| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 Asia Economy


How to use our RSS feed

Follow Finfacts on Twitter

Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.


Finfacts is Ireland's leading business information site and you are in its business news section.


Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News


Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News




Content Management by interactivetools.com.

News : EU Economy Last Updated: Aug 17, 2011 - 5:00 AM

GDP rose by 0.2% in both the Eurozone and the EU27 during the second quarter of 2011
By Finfacts Team
Aug 16, 2011 - 10:55 AM

Email this article
 Printer friendly page

GDP (gross domestic product) rose by 0.2% in both the Eurozone (EA17) and the EU27 during the second quarter of 2011, compared with the previous quarter, according to flash estimates published by Eurostat, the statistics office of the European Union. In the first quarter of 2011, growth rates were +0.8% in both zones.

Germany reported earlier today that its economy grew by just 0.1% in the second quarter. Last Friday, France reported that its economy had ground to a standstill in the second quarter and with the two biggest economies of the 17-member Eurozone seeing a sharp deceleration in growth.

Irel;and's second quarter data will not be available until next month.

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 1.7% in both zones in the second quarter of 2011, after +2.5% in both zones in the previous quarter.

During the second quarter of 2011, GDP in the United States increased by 0.3% compared with the previous quarter (after +0.1% in the first quarter of 2011). In Japan GDP fell by 0.3% in the second quarter of 2011 (after -0.9%).

Compared with the same quarter of the previous year, GDP rose by 1.6% in the United States (after +2.2% in the previous quarter), and decreased by 0.9% in Japan (after -0.7%).

European quarterly national accounts are compiled in accordance with the European System of Accounts 1995 (ESA95). The flash estimate of second quarter 2011 GDP growth presented in this release is based on member countries data as available, covering 95% of EA17 GDP (91% of EU27 GDP).

Eurostat says simulations and previously published flash estimates have shown the flash estimation procedure to be reliable. Over the last 42 quarters, the flash estimate of GDP growth on the previous quarter for the Eurozone (EA12) when compared to the following release has led to an average revision of less than 0.01 percentage points. It correctly anticipated the acceleration or deceleration of growth 37 times. The value of the growth rate was correctly anticipated 37 times and differed by ±0.1 percentage points 5 times.

The Eurozone includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

Related Articles
Related Articles

© Copyright 2011 by Finfacts.com

Top of Page

EU Economy
Latest Headlines
Spain's strong recovery to slow in the next few years
Italy's Mezzogiorno is Achilles' heel of Euro Area - lowest birth rate since 1862
Euro Area GDP grows at weak 0.3% in Q2 2015
German GDP up 0.4% in Q2 2015; France's GDP stagnates
Germany's Surplus: Lots of critics; Credible solutions scarce
Euro Area industrial production dips in June and May after a flat April
Greece faces two years of recession according to EU officials
High EU youth unemployment rate not as bad as it seems
Eurozone retail PMI surges to highest since January 2011
ECB monetary policy still tight for Southern Europe
German exports fell in June — surplus at record; Exports up 13.7% year-on-year
Eurozone manufacturing sector continued to expand in July
Weak euro unlikely to have significant impact on Euro Area growth
Is Euro Area Ireland's top trading partner?: EU28 is overwhelmingly UK's
German car firms boost exports from Spain, UK, Portugal, Czech Republic, Slovakia, Hungary and Romania
Flash Eurozone manufacturing/ services PMI close to four-year high despite Greek crisis
Krugman calls euro a Roach Motel; Hotel California gets 1-star grade
Greece & Euro Crisis: July 2015 articles from Finfacts
Greece and other poor countries in Euro Area will not become rich
Euro Area manufacturing/ services PMI hits four-year high in June
Western European car market: Recovery continues
Greece could become a failed state like Venezuela
Multinational companies pay on average 30% less tax than domestic competitors in EU
EU's list of 30 tax havens omits the biggest 4 in Europe
China to invest in Juncker's European investment fund
Greek talks collapse; Game theorists gambling with future — Germany's vice-chancellor
German exports and industrial production in strong rises in April
Tackling Inequality: Scandinavian countries have the most successful welfare systems in Europe
Eurozone unemployment fell by 130,000 in April 2015 — down 849,000 in 12 months
Eurozone service sector business activity slowed during May
German 2015 GDP forecast cut; Jobless level at 24-year low
Eurozone manufacturing in modest acceleration in May
FDI into Europe at record in 2014; UK on top: Germany location for future investment
Eurozone economy loses growth momentum; Jobs growth rises
Athens leak suggests Juncker has plan for Greece
Draghi will not end QE early but warns of risks
Eurozone grows faster than US and UK in Q1 2015
German GDP at slower pace, France faster in Q1 2015
Germany may cut income tax; Germans still shun risky investments
Germany had record exports and imports in March 2015