GDP of Europe increases
Seasonally adjusted data recording Gross Domestic Product (GDP) in the Euro area and member states of the European Union displayed an increase of 0.2% and 0.3% respectively during the first quarter of 2014, reports Eurostat, the official statistical office of the European Union.
Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 0.9% in the euro area and by an impressive 1.4% in the EU28 in the first quarter of 2014.
In the fourth quarter of 2013, GDP grew by 0.2% in the euro area and by 0.4% in the EU28.
According to the data released, Cyprus’ GDP dropped by 0.7% during the first quarter of 2014 compared to the corresponding period in 2013, dropping by 0.8% last quarter.
Eurostat notes that during the first quarter of 2014, GDP in the United States remained unchanged compared with the previous quarter. Compared with the same quarter of the previous year, GDP rose by 2.3%.