Over the last 26 quarters, the flash estimate of GDP growth on the previous quarter for the euro area (EA12) when compared to the following first regular release has led to an average revision of less than 0.01 percentage points.
It correctly anticipated the acceleration or deceleration of growth 22 times. The value of the growth rate was correctly anticipated 22 times and differed by ±0.1 percentage points 4 times.
With this flash estimate, euro area and EU GDP figures for earlier quarters are not revised, so the growth rates till the first quarter 2007, published in News Release 97/2007 of 12 July 2007, remain unchanged.
All figures presented in this release are subject to further revision with the two regular estimates of GDP for the second quarter 2007, scheduled for 3 September 2007 and 11 October 2007. First estimates for National Accounts employment in the second quarter 2007 are scheduled for 12 September 2007.
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