According to the flash estimates released by Eurostat, the statistical office of the European Union, during the second quarter this year gross domestic product (GDP) remained stable in the euro area and increased by 0.2 percent in the EU-28, compared to the previous quarter. In the first quarter of this year, GDP had increased by 0.2 percent in the euro area and by 0.3 percent in the EU-28, on quarter-on-quarter basis.
Compared with the same quarter of 2013, in the second quarter this year seasonally adjusted GDP increased by 0.7 percent in the euro area and rose by 1.2 percent in the EU-28, after respectively increasing by one percent and 1.4 percent year on year in the previous quarter.
Meanwhile, in the second quarter of this year GDP in the United States increased by one percent quarter on quarter and rose by 2.5 percent compared with the same quarter of 2013.