8th March 2014

EU and eurozone show signs of economic recovery

Eurostat, the EU statistics office, published on 5 March its second estimate of GDP growth in 4th quarter of 2013. According to the estimate, GDP of the EU increased by 0,4% and of the eurozone by 0,3%. Compared to 4th quarter of 2012, there is a change of +1,1% and 0,5% respectively. In the 3rd quarter of 2013, EU´s GDP increased by 0,3%. This continued growth shows slow, but steady economic consolidation of the EU. However, considering the whole year 2013, eurozone´s GDP fell by 0,5% and stagnated at +0,1% for the whole EU. The highest quarterly growth was recorded by Sweden (+1,7%) followed by the Czech Republic (+1,6%). Estonia, Denmark, Cyprus and Finland experienced GDP fall of 0,1 to 1%.
The US economy, to provide comparison, rose by 0,8% in the 4th quarter of 2013.

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Members of the American Chamber of Commerce in the Czech Republic