Euro area (EA12) and EU25 GDP both grew by 0.9% in the fourth quarter of 2006, compared to the previous quarter, according to first estimates released by Eurostat, the Statistical Office of the European Communities. In the third quarter of 2006, growth rates were +0.6% in both the euro area and the EU25.

Compared to the fourth quarter of 2005, seasonally adjusted GDP rose by 3.3% in the euro area and by 3.4% in the EU25, after +2.7% and +3.0% respectively for the previous quarter.

Growth in investment and exports accelerates

During the fourth quarter of 2006, household final consumption expenditure increased by 0.6% in both zones (after +0.7% in the euro area and +0.6% in the EU25 in the third quarter of 2006). Investments grew by 1.2% in the euro area and by 1.5% in the EU25 (after +0.6% and +0.9%). Exports rose by 3.7% in the euro area and by 2.9% in the EU25 (after +1.8% and +0.3%). Imports increased by 1.9% in the euro area and by 1.7% in the EU25 (after +2.2% and +0.2%).

US GDP up by 0.6%, Japanese GDP up by 1.2%

In the United States GDP increased by 0.6% during the fourth quarter of 2006, after +0.5% in the third quarter. In Japan GDP grew by 1.2% in the fourth quarter, after +0.1% in the previous quarter.

Compared to the fourth quarter of 2005, GDP rose by 3.1% in the US (after +3.0% in the previous quarter) and by 2.3% in Japan (after +1.5%).

GDP grew by 2.6% in the euro area and by 2.9% in the EU25 in 2006

Over the whole year 2006, GDP grew by 2.6% in the euro area and by 2.9% in the EU25, compared to +1.4% and +1.7% respectively for 2005.

Over the whole year 2006, GDP grew by 3.3% in the US (+3.2% in 2005) and by 2.2% in Japan (+1.9% in 2005).