The eurozone and EU economies grew by 0.1 and 0.2 percent respectively in the third quarter of 2013 compared to the previous quarter. Compared to the previous year, the eurozone economy contracted by 0.4 percent. In the European Union, it rose by 0.1 percent.
GDP of European countries
German growth is declining slightly
The German economy grew by 0.3 percent. This means that growth has declined somewhat, with Germany still growing by 0.7% in the second quarter. In France, 0.5% growth turned into 0.1% contraction. Growth continued in the UK. That country’s economy grew by 0.7 percent in the second quarter and 0.8 percent in the third quarter. The growth of the Belgian economy reached 0.3 percent. This was slightly higher than Dutch growth, which coincided with growth in the euro area (0.1 percent). Spain also had this growth rate; Italy recorded a slight contraction (-0.1 percent).
GDP inside and outside Europe
Growth continues in the United States
In the United States, the world’s largest economy, growth continued strongly. Compared to the previous quarter, the US economy grew by 0.7 percent. The growth rate also increased in the world’s second largest economy, China. The Chinese economy grew by 2.2 percent in the third quarter compared to the previous quarter. Compared to the previous year, the US economy grew by 1.6% in the second and third quarters. Compared to this, the European average growth of 0.1 percent is weak. The Netherlands even saw a contraction of 0.8 compared to the previous year. The effect of the additional working day has been taken into account.
For the purposes of international comparison, all figures in this article have been adjusted for working days and seasons.
More international economic figures can be found on the Eurostat website.
