BBP Euro-zone in vierde kwartaal van 2007 gestegen met 0,4% en EU-27 met 0,5% (en)
STAT/08/21
14 February 2008
Flash estimates for the fourth quarter of 2007
Euro area GDP up by 0.4% and EU27 up by 0.5%
+2.3% and +2.6% respectively compared to the fourth quarter of 2006
GDP grew by 0.4% in the euro area 1 (EA13) and by 0.5% in the EU27 1 during the fourth quarter of 2007, compared with the previous quarter, according to flash estimates published by Eurostat, the Statistical Office of the European Communities. In the third quarter of 2007, growth rates were +0.8% in both the euro area and the EU27.
Compared with the same quarter of the previous year, seasonally adjusted GDP grew by 2.3% in the euro area and by 2.6% in the EU27 in the fourth quarter of 2007, after +2.7% and +3.0% respectively in the previous quarter.
During the fourth quarter of 2007, US GDP increased by 0.2% compared with the previous quarter, after +1.2% in the third quarter. In Japan, GDP grew by 0.9% in the fourth quarter, after +0.3% in the third quarter. Compared with the same quarter of the previous year, GDP grew in the fourth quarter by 2.5% in the US and by 1.8% in Japan, after +2.8% and +1.9% respectively in the previous quarter.
Over the whole year2 2007, GDP grew by 2.7% in the euro area and by 2.9% in the EU27.
The euro area (EA13) consisted of 13 Member States up to 31 December 2007: Belgium, Germany, Ireland, Greece, Spain, France, Italy, Luxembourg, the Netherlands, Austria, Portugal, Slovenia and Finland. From 1 January 2008 the euro area (EA15) also includes Cyprus and Malta.
The EU27 includes Belgium (BE), Bulgaria (BG), the Czech Republic (CZ), Denmark (DK), Germany (DE), Estonia (EE), Ireland (IE), Greece (EL), Spain (ES), France (FR), Italy (IT), Cyprus (CY), Latvia (LV), Lithuania (LT), Luxembourg (LU), Hungary (HU), Malta (MT), the Netherlands (NL), Austria (AT), Poland (PL), Portugal (PT), Romania (RO), Slovenia (SI), Slovakia (SK), Finland (FI), Sweden (SE) and the United Kingdom (UK).
As part of Eurostat's guidelines for the dissemination of data when the EU or euro area is enlarged, the aggregate data series commented on in this News Release refer to the official composition of the euro area in the most recent quarter for which data is available. Thus News Releases with data for quarters up to Q4 2007 comment on EA13 series, while Releases with data for Q1 2008 onwards will comment on EA15 series.
These annual growth rates are implied from today's flash estimates for the fourth quarter together with the previously released estimates for quarters one to three and do include a correction for working day effects.
European quarterly national accounts are compiled in accordance with the European System of Accounts 1995 (ESA95). The flash estimate of 2007 Q4 GDP growth presented in this release is based on Member States' data as available, directly covering 78% of EA13 GDP (74% of EU27 GDP). For more details of the flash methodology please refer to News Release 55/2003 of 15 May 2003.
Simulations and previously published flash estimates have shown the flash estimation procedure to be reliable. Over the last 28 quarters, the flash estimate of GDP growth on the previous quarter for the euro area (EA12) when compared to the following first regular release has led to an average revision of less than 0.01 percentage points. It correctly anticipated the acceleration or deceleration of growth 24 times. The value of the growth rate was correctly anticipated 24 times and differed by ±0.1 percentage points 4 times.
With this flash estimate, euro area and EU GDP figures for earlier quarters are not revised, so the growth rates till the third quarter 2007, published in News Release 5/2008 of 9 January 2008, remain unchanged. All figures presented in this release are subject to further revision with the two regular estimates of GDP for the fourth quarter 2007, scheduled for 4 March 2008 and 9 April 2008. First estimates for National Accounts employment in the fourth quarter 2007 are scheduled for 17 March 2008.
Issued by: Eurostat Press Office Tim ALLEN Tel: +352-4301-33 444 mailto:eurostat-pressoffice@ec.europa.eu Eurostat news releases on the Internet: http://ec.europa.eu/eurostat |
For further information on data: Ingo KUHNERT Luis BIEDMA Tel: +352-4301-35 234 +352-4301-34 728 mailto:estat-gdp-query@ec.europa.eu |
Selected Principal European Economic Indicators: http://ec.europa.eu/eurostat/euroindicators
Growth rates of GDP in volume
(based on seasonally adjusted* data)
|
Percentage change compared to the previous quarter |
Percentage change compared to the same quarter of the previous year |
|---|
|
2007 |
2007 |
|---|
|
Q1 |
Q2 |
Q3 |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
|---|---|---|---|---|---|---|---|---|
EA13 |
0.8 |
0.3 |
0.8 |
0.4 |
3.2 |
2.5 |
2.7 |
2.3 |
EA15 |
0.8 |
0.3 |
0.8 |
0.4 |
3.2 |
2.5 |
2.7 |
2.3 |
EU27 |
0.8 |
0.5 |
0.8 |
0.5 |
3.4 |
2.8 |
3.0 |
2.6 |
Member States |
||||||||
Belgium |
0.7 |
0.6 |
0.5 |
: |
3.0 |
2.8 |
2.6 |
: |
Bulgaria ** |
: |
: |
: |
: |
6.2 |
6.6 |
4.5 |
: |
Czech Republic |
1.6 |
1.4 |
1.4 |
: |
6.3 |
6.2 |
6.1 |
: |
|
|
|
|
|
|
|
|
|
Denmark |
1.1 |
-1.0 |
1.6 |
: |
3.9 |
-0.1 |
1.6 |
: |
Germany |
0.6 |
0.2 |
0.7 |
0.3 |
3.7 |
2.6 |
2.5 |
1.8 |
Estonia ** |
1.9 |
0.9 |
1.6 |
0.6 |
10.1 |
7.6 |
6.4 |
4.5 |
|
|
|
|
|
|
|
|
|
Ireland |
5.8 |
-1.5 |
1.4 |
: |
8.1 |
5.7 |
3.9 |
: |
Greece |
1.0 |
0.9 |
0.9 |
0.7 |
4.3 |
4.1 |
3.8 |
3.6 |
Spain |
1.0 |
0.9 |
0.7 |
0.8 |
4.1 |
4.0 |
3.8 |
3.5 |
|
|
|
|
|
|
|
|
|
France |
0.6 |
0.3 |
0.8 |
0.3 |
1.9 |
1.3 |
2.2 |
2.1 |
Italy |
0.3 |
0.1 |
0.4 |
: |
2.4 |
1.8 |
1.9 |
: |
Cyprus |
1.2 |
1.2 |
1.1 |
0.7 |
4.3 |
4.2 |
4.7 |
4.3 |
|
|
|
|
|
|
|
|
|
Latvia ** |
2.4 |
2.8 |
2.8 |
: |
11.2 |
11.0 |
10.9 |
9.6 |
Lithuania |
1.8 |
2.1 |
5.2 |
-1.1 |
7.6 |
7.6 |
11.6 |
8.1 |
Luxembourg |
1.7 |
0.6 |
0.7 |
: |
5.9 |
5.6 |
5.6 |
: |
|
|
|
|
|
|
|
|
|
Hungary |
0.2 |
0.0 |
0.3 |
: |
2.6 |
1.6 |
1.1 |
: |
Malta |
1.4 |
0.2 |
0.9 |
: |
3.6 |
3.6 |
4.3 |
: |
Netherlands ** |
1.0 |
0.3 |
1.9 |
1.2 |
2.5 |
2.6 |
4.2 |
4.4 |
|
|
|
|
|
|
|
|
|
Austria |
1.0 |
0.8 |
0.8 |
0.7 |
3.5 |
3.5 |
3.4 |
3.3 |
Poland |
1.4 |
1.4 |
1.2 |
: |
6.7 |
6.6 |
5.8 |
: |
Portugal |
0.7 |
0.7 |
-0.1 |
0.7 |
2.0 |
1.9 |
1.7 |
2.0 |
|
|
|
|
|
|
|
|
|
Romania ** |
: |
: |
: |
: |
6.0 |
5.6 |
5.7 |
: |
Slovenia |
1.9 |
1.2 |
1.6 |
: |
7.5 |
6.4 |
6.3 |
: |
Slovakia ** |
2.4 |
2.8 |
2.9 |
3.1 |
8.3 |
9.3 |
9.4 |
14.1 |
|
|
|
|
|
|
|
|
|
Finland |
1.2 |
1.0 |
0.7 |
: |
4.9 |
4.3 |
4.1 |
: |
Sweden |
0.5 |
0.7 |
0.6 |
: |
3.2 |
2.9 |
2.6 |
: |
United Kingdom |
0.8 |
0.8 |
0.7 |
0.6 |
3.1 |
3.2 |
3.3 |
2.9 |
EFTA countries |
||||||||
Iceland |
-0.9 |
2.2 |
2.4 |
: |
0.1 |
2.0 |
3.8 |
: |
Norway |
0.6 |
1.0 |
1.4 |
: |
2.1 |
3.2 |
3.4 |
: |
Switzerland |
0.7 |
0.8 |
0.8 |
: |
2.7 |
2.8 |
2.8 |
: |
Main economic partners |
||||||||
United States |
0.2 |
0.9 |
1.2 |
0.2 |
1.5 |
1.9 |
2.8 |
2.5 |
Japan |
1.0 |
-0.4 |
0.3 |
0.9 |
2.9 |
1.7 |
1.9 |
1.8 |
: Data not available
-
*The seasonal adjustment includes a working-day correction for the following Member States: Belgium, Germany, Spain, France, Italy, Lithuania, Hungary, Malta, the Netherlands, Austria, Poland, Slovenia, Finland, Sweden and the United Kingdom.
** Percentage change compared to the same quarter of the previous year calculated from non-seasonally adjusted data.