In the first quarter of 2007 and among the Member States for which seasonally adjusted GDP data are available, Ireland (+4.7%) recorded the highest growth rate, followed by Greece (+3.2%), Latvia (+2.6%), Slovakia (+2.4%), Estonia and Lithuania (+2.3% each).
Strong growth in investment, household consumption nearly stable
In the first quarter of 2007, household final consumption expenditure remained stable in the euro area and grew by 0.2% in the EU27 (after +0.4% and +0.6% in the previous quarter). Investment grew by 2.4% in the euro area and by 2.1% in the EU27 (after +1.5% and +1.9%). Exports rose by 0.8% in both zones (after +3.3% and +2.9%). Imports increased by 1.7% in the euro area and by 1.6% in the EU27 (after +1.6% and +1.5%).
Among the Member States for which seasonally adjusted expenditure data are available, growth rates of household final consumption ranged from -1.4% in Germany to +5.2% in Estonia. Growth of gross fixed capital formation varied between -2.2% in the Czech Republic and +20.2% in Lithuania. Exports grew most strongly in Slovenia (+4.8%) while Malta (-5.7%) recorded the strongest decrease. Imports rose the most in Latvia (+12.0%) while they fell the most in Malta (-3.4%).
US GDP up by 0.2%, Japanese GDP up by 0.8%
Among the main partners of the EU, GDP grew by 0.2% in the US in the first quarter of 2007 (after +0.6% in the previous quarter). In Japan GDP grew by 0.8% in the first quarter of 2007 (+1.3% in the previous quarter).
Compared to the first quarter of 2006, GDP rose by 1.9% in the US (+3.1% in the previous quarter) and by 2.7% in Japan (+2.4% in the previous quarter).
