EU GDP grows at 1% in second quarter

13 August 2010 11:13  [Source: ICIS news]

LONDON (ICIS)--Gross domestic product (GDP) increased by 1% in both the euro area and in the 27-member European Union (EU), statistics agency Eurostat said on Friday.

In the first quarter, growth rates were 0.2% in both zones, it added.

The rise in GDP was driven by growth in Germany, which reported a record 2.2% expansion of the economy in the second quarter, as well as a 2.9% rise in Lithuania and a 2.0% increase in Estonia.

Greece’s economy contracted by1.5% while both Spain and Portugal saw GDP growth in the quarter of a mere 0.2%.

Compared with the same quarter in 2009, GDP increased by 1.7% in both the euro area and the EU in the second quarter of 2010.

To discuss issues facing the chemical industry go to ICIS connect

By: Hilde Ovrebekk
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index