Eurostat estimates 0.5% GDP increase for first quarter of 2016
According to Eurostat, the EU Statistics Office, seasonally adjusted GDP (gross domestic product) rose by 0.6% in the euro area (EA19) and by 0.5% in the EU28 during the first quarter of 2016, compared with the previous quarter. This is the outcome of an Eurostat preliminary flash estimate. In the fourth quarter of 2015, GDP had grown by 0.3% in the euro area and by 0.4% in the EU28.
Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.6% in the euro area and by 1.7% in the EU28 in the first quarter of 2016 (+1.6% and +1.8% respectively in the previous quarter).
With this release, Eurostat begins the publication of a preliminary GDP flash estimate at around 30 days after the end of the reference quarter. A second GDP flash estimate will continue to be published about 45 days after the end of the reference quarter, which will present the usual Member State data.
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