In the fourth quarter of 2007 and among the Member States for which seasonally adjusted GDP data are available, Slovakia (+3.3%) recorded the highest growth rate compared with the previous quarter, followed by Poland (+2.0%) and the Czech Republic (+1.7%).
Private consumption static, growth in investment and exports
In the fourth quarter of 2007, household final consumption expenditure decreased by 0.1% in the euro area and increased by 0.1% in the EU27 (after +0.5% and +0.6% in the previous quarter). Investment increased by 0.8% in the euro area and by 1.2% in the EU27 (after +1.1% and +1.4%). Exports rose by 0.6% in the euro area and by 0.9% in the EU27 (after +2.0% in both zones). Imports decreased by 0.3% in the euro area and by 0.1% in the EU27 (after +2.5% and +3.0%).
US GDP up by 0.1%, Japanese GDP up by 0.9%
Among the main partners of the EU, GDP grew by 0.1% in the US in the fourth quarter of 2007 (after +1.2% in the previous quarter). In Japan GDP increased by 0.9% in the fourth quarter of 2007 (+0.3% in the previous quarter).
Compared with the fourth quarter of 2006, GDP rose by 2.5% in the US (+2.8% in the previous quarter) and by 1.8% in Japan (+1.9% in the previous quarter).
In 2007 GDP grew by 2.6% in the euro area and by 2.9% in the EU27
Over the whole year 2007, GDP grew by 2.6% in the euro area and by 2.9% in the EU27, compared to +2.8% and +3.1% respectively for 2006.
Over the whole year 2007, GDP grew by 2.2% in the US (+2.9% in 2006) and by 2.1% in Japan (+2.4% in 2006).
