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Eurostat revises some GDP numbers

July 8, 2009

Eurostat revised gross domestic product figures for several nations Wednesday, but confirmed its estimate for member states as a whole.

Eurostat confirmed gross domestic product figures for the Euro area, where the GDP fell 2.5 percent in the first quarter. In the EU27 area, the GDP fell 2.4 percent.

In the second estimate of first quarter productivity, Eurostat said consumer spending dropped 0.5 percent in the first quarter in the euro area and 0.6 percent in the EU27 area.

Exports dropped sharply in the first quarter, down 8.8 percent in the euro area and 8.3 percent in the EU27. Imports dropped 7.6 percent and 7.8 percent, respectively.

But Eurostat revised the GDP figure for Italy, where the decline hit 2.6 percent, a sharper decline than the previous 2.4 percent estimate. In Romania, the GDP was revised to a decline of 4.6 percent from a previous estimate of 2.6 percent. In Slovakia, the GDP was revised to a decline of 11.4 percent.

Britain’s GDP fell 2.4 percent, the new report said. The previous estimate was 1.9 percent.


Source: upi



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