Euro area1 (EA13) grew by 0.7% and EU27 GDP by 0.8% in the third quarter of 2007, compared with the previous quarter, according to first estimates released by Eurostat, the Statistical Office of the European Communities. In the second quarter of 2007, growth rates were +0.3% in the euro area and +0.5% in the EU27.
Compared with the third quarter of 2006, seasonally adjusted GDP rose by 2.7% in the euro area and by 2.9% in the EU27, after +2.5% and +2.8% respectively for the previous quarter.
Growth in household consumption and investments: During the third quarter of 2007, household final consumption expenditure increased by 0.5% in the euro area and by 0.6% in the EU27 (after +0.6% for both zones in the previous quarter). Investments grew by 0.9% in the euro area and by 1.1% in the EU27 (after 0.0% for both zones).
Exports rose by 2.5% in the euro area and by 2.6% in the EU27 (after +0.8% and +0.7% respectively). Imports increased by 2.7% in the euro area and by 2.9% in the EU27 (after +0.1% for both zones). US GDP up by 1.2%, Japanese GDP up by 0.6%
In the United States GDP increased by 1.2% during the third quarter of 2007, after +0.9% in the second quarter of 2007. In Japan GDP grew by 0.6% in the third quarter, after -0.4% in the previous quarter.
Compared to the third quarter of 2006, GDP rose by 2.8% in the US (after +1.9% in the previous quarter) and by 2.2% in Japan (after +1.5%).
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