Euro area1 GDP grew by 0.6 percent and EU25 GDP by 0.7 percent in the first quarter of 2006, compared to the previous quarter, according to first estimates released by Eurostat, the Statistical Office of the European Communities.
In the fourth quarter of 2005, growth rates were +0.3 percent in the euro area and +0.4 percent in the EU25.
Compared to the first quarter of 2005, GDP rose by 1.9 percent in the euro area and by 2.2 percent in the EU25, after +1.7 percent and +1.9 percent respectively in the previous quarter.
Private consumption and external trade accelerate
During the first quarter of 2006, household2 final consumption expenditure increased by 0.7 percent in the euro area and by 0.6 percent in the EU25 (after +0.1 percent and +0.3 percent in the fourth quarter 2005).
Investments grew by 0.3 percent in the euro area and by 0.6 percent in the EU25 (after +0.2 percent in both zones). Exports rose by 3.1 percent in the euro area and by 3.6 percent in the EU25 (after +0.7 percent and +1.1 percent).
Imports increased by 2.5 percent in the euro area and by 3.4 percent in the EU25 (after +1.3 percent and +1.5 percent).
US GDP up by 1.3 percent, Japanese GDP up by 0.5 percent
In the United States, GDP increased by 1.3 percent during the first quarter of 2006, after +0.4 percent in the fourth quarter of 2005.
In Japan GDP grew by 0.5 percent in the first quarter, after +1.1 percent in the previous quarter.
Compared to the first quarter of 2005, GDP rose by 3.6 percent in the US (after +3.2 percent in the previous quarter) and by 3.0 percent in Japan (after +4.0 percent).
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