by KG/Associated Press Seasonally adjusted GDP rose by 0.2% in the euro area1 (EA18) and by 0.3% in the EU28 during the third quarter of 2014, compared with the previous quarter, according to a second estimate published by Eurostat, the statistical office of the European Union. In the second quarter of 2014, GDP grew by 0.1% in the euro area and by 0.2% in the EU28. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 0.8% in the euro area and by 1.3% in the EU28 in the third quarter of 2014, after +0.8% and +1.3% respectively in the previous quarter. During the third quarter of 2014, GDP in the United States increased by 1.0% compared with the previous quarter (after +1.1% in the second quarter of 2014). Compared with the same quarter of the previous year, GDP grew by 2.4% (after +2.6% in the previous quarter). GDP growth by Member State Among Member States for which data are available for the third quarter of 2014, Romania (+1.8%), Poland (+0.9%), Greece, Slovenia and the United Kingdom (all +0.7%) recorded the highest growth compared with the previous quarter. Cyprus (-0.4%), Austria (-0.3%) and Italy (-0.1%) registered decreases. GDP components and contributions to growth During the third quarter of 2014, household final consumption expenditure rose by 0.5% in the euro area and by 0.6% in the EU28 (after +0.3% and +0.4% respectively in the previous quarter). Gross fixed capital formation decreased by 0.3% in the euro area and increased by 0.5% in the EU28 (after -1.2% and -0.6%). Exports rose by 0.8% in the euro area and by 0.6% in the EU28 (after +1.4% and +1.0%). Imports increased by 1.2% in the euro area and by 1.1% in the EU28 (after +1.3% and +1.0%). Household final consumption expenditure had a positive contribution to GDP growth (+0.3 percentage points) both in the euro area and the EU28. Gross fixed capital formation had a negative contribution to GDP growth in the euro area (-0.1pp) and a positive influence in the EU28 (+0.1pp). The contribution of the external balance to GDP growth was negative in both zones. The contribution of changes in inventories was neutral in the euro area and positive (+0.1pp) in the EU28.
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