Euro area (EA13) GDP grew by 0.4% and EU27 GDP by 0.5% in the fourth quarter of 2007, compared with the previous quarter, according to first estimates released by Eurostat, the Statistical Office of the European Communities. In the third quarter of 2007, growth rates were +0.7% in the euro area and +0.8% in the EU27.

Compared with the fourth quarter of 2006, seasonally adjusted GDP rose by 2.2% in the euro area and by 2.6% in the EU27, after +2.6% and +2.9% respectively for the previous quarter.

Private consumption static, growth in investments and exports

During the fourth quarter of 2007, household2 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). Investments grew by 0.8% in the euro area and by 0.7% in the EU27 (after +1.2% and +1.4% in the previous quarter). Exports rose by 0.5% in the euro area and by 0.6% in the EU27 (after +2.1% and +2.0%). Imports decreased by 0.4% in the euro area and by 0.2% in the EU27 (after +2.5% and +2.9%).

US GDP up by 0.2%, Japanese GDP up by 0.9%

In the United States GDP increased by 0.2% during the fourth quarter of 2007, after +1.2% in the third quarter of 2007. In Japan GDP grew by 0.9% in the fourth quarter, after +0.3% in the previous quarter.

Compared to the fourth quarter of 2006, GDP rose by 2.5% in the US (after +2.8% in the previous quarter) and by 1.8% in Japan (after +1.9%).

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 +3.0% 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).