GDP in European Union rose by 0.4%
Preliminary flash estimate for the third quarter of 2016
GDP up by 0.3% in the euro area and by 0.4% in the EU28
+1.6% and +1.8% respectively compared with the third quarter of 2015
Seasonally adjusted GDP rose by 0.3% in the euro area (EA19) and by 0.4% in the EU28 during the third quarter of 2016, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union. In the second quarter of 2016, GDP had also 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 1.8% in the EU28 in the third quarter of 2016, after +1.6% and +1.8% also in the previous quarter.
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 third quarter of 2016 GDP growth presented in this release is based on the data of 17 Member States, covering 94% of EA19 GDP (91% of EU28 GDP).
Two statistical working papers present the preliminary GDP flash methodology for the European estimates and Member States estimates.
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 15 November 2016 and subsequently by the estimate of GDP and main aggregates scheduled for 6 December 2016.
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 paper Euro area and EU GDP flash estimates at 30 days.
Source: Eurostat
