EUROSTAT European Union Statistical Office : GDP up by 0.6% in both the euro area and the EU28

20/2018 - 30 January 2018

Preliminary flash estimate for the fourth quarter of 2017

GDP up by 0.6% in both the euro area and the EU28

+2.7% and +2.6% respectively compared with the fourth quarter of 2016

Seasonally adjusted GDP rose by 0.6% in both the euro area (EA19) and in the EU28 during the fourth quarter of 2017, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union. In the third quarter of 2017, GDP had grown by 0.7% in both zones.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 2.7% in the euro area and by 2.6% in the EU28 in the fourth quarter of 2017, after +2.8% in both zones in the previous quarter.

Over the whole year 2017, GDP grew by 2.5% in both zones.

EU28 and euro area GDP growth rates % change over the previous quarter

Growth rates of GDP in volume

(based on seasonally adjusted data)

Percentage change compared with the previous quarter				Percentage change compared with the same quarter of the previous year
2017				2017
Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
EA19	0.6	0.7	0.7	0.6	2.1	2.4	2.8	2.7
EU28	0.6	0.7	0.7	0.6	2.2	2.5	2.8	2.6

The source dataset can be foundhere.

Geographical information

The euro area (EA19) includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

The European Union (EU28) includes Belgium, Bulgaria, the Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United Kingdom.

Methods and definitions

European quarterly national accounts are compiled in accordance with the European System of Accounts 2010 (ESA 2010).

The preliminary flash estimate of the fourth quarter of 2017 GDP growth presented in this release is based on the data of 17 Member States, covering 94% of EA19 GDP (90% of EU28 GDP).

The first estimation of annual growth for 2017 is derived by dividing the sum of the four quarters of 2017 by the sum of the four quarters of 2016. The quarterly values are expressed in millions of euro (chain-linked volumes) and include a correction for calendar effects.

Two statistical working papers present the preliminary GDP flash methodology for theEuropean estimates andMember Statesestimates.

Revisions and timetable

With this preliminary flash estimate, euro area and EU GDP figures for earlier quarters are not revised.

All figures presented in this release may be revised with the GDP t+45 flash estimate scheduled for 14 February 2018 and subsequently by the estimate of GDP and main aggregates scheduled for 7 March 2018.

Data on revisions for test estimations, showing that the preliminary flash estimation procedure is sufficiently reliable, are available in chapter 5 of the statistical working paperEuro area and EU GDP flash estimates at 30 days.

For more information

Eurostatwebsite section on national accounts, and specifically thepage on quarterly national accounts Eurostatdatabase section on national accounts

EurostatStatistics Explained article on measuring quarterly GDP Eurostatmetadata on quarterly national accounts

European System of Accounts 2010

Eurostat €-indicatorsrelease calendar

Issued by: Eurostat Press Office

For further information on data:

Baiba GRANDOVSKA

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ec.europa.eu/eurostat

Marianthi DUNN

Tel: [phone] Véronique DENEUVILLE

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EurostatStatistics

@EU_Eurostat

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