GDP in Europe up by 0.8 percent

According to the EU´s statistical office Eurostat, GDP in the Eurozone (EZ15) and in the EU27 increased by 0.8% in the first quarter 2008 as compared to the fourth quarter in 2007. In the fourth quarter 2007 the respective growth rates had been significantly smaller reaching +0.3% and +0.7% respectively.

In comparison with the first quarter 2007 GDP increased by 2.2% and 2.5% in the EU15 and the EU27 respectively. In detail GDP grew as follows in the first quarter 2008:

  • Private consumption in the EU15 grew by +0.2% and by 0.3% in the EU27.
  • Investment by +1.6% and +1.0% respectively.
  • Exports from the EU15 by +1.9% and by +1.7% from the EU27.
  • Imports by +1.8% and +1.1% respectively.

In the USA GDP grew by 0.2% in the first quarter 2008 following +0.1% in the fourth quarter 2007. In Japan it increased by 0.8% following +0.6%. Comparing the grow rates of GDP in the first quarters of 2007 and 2008, it grew by 2.5% in the USA and by 1.1% in Japan. GERMAN