Investment rises in the Eurozone

Both euro-zone and EU25 GDP grew by 0.3% in the second quarter of 2005, compared to the previous quarter, according to first estimates released by Eurostat, the Statistical Office of the European Communities. In the first quarter of 2005, growth rates were +0.4% in both zones.

The same figures show that real GDP growth in Cyprus rose by 3.9% year on year in the first quarter of 2005, up from 3.1% in the fourth quarter of 2004.

Compared to the second quarter of 2004, GDP rose by 1.1% in the euro-zone and by 1.3% in the EU25, after +1.3% and +1.5% respectively in the previous quarter.

During the second quarter of 2005, household final consumption expenditure decreased by 0.1% in the euro-zone and remained unchanged in the EU25 (after +0.2% and +0.1% in the first quarter 2005).

Investments grew by 0.2% in the euro-zone and by 0.6% in the EU25 (after -0.2% and 0.0% in the previous quarter). Exports rose by 2.1% in the euro-zone and by 2.6% in the EU25 (after -0.7% and -0.6%).

Imports increased by 2.1% in the euro-zone and by 2.3% in the EU25 (after -1.4% and -1.3%).

US GDP up 0.8%, Japan up 0.3%

In the United States, GDP increased by 0.8% during the second quarter of 2005, after +0.9% in the first quarter. In Japan GDP grew by 0.3% in the second quarter of 2005, after +1.3% in the previous quarter.

Compared to the second quarter of 2004, GDP rose by 3.6% in the US (after +3.6% in the previous quarter) and by 1.5% in Japan (after +1.0%).