EU growth accelerated in third quarter

Euro-zone and EU25 GDP both grew by 0.6% compared with the previous period in the third quarter of 2005 according to revised estimates from Eurostat, the Statistical Office of the European Communities. In the second quarter of 2005, growth rates were +0.4% in the euro-zone and +0.5% in the EU25.

In comparison with the same quarter of the previous year, GDP grew by 1.6% in the euro-zone and by 1.8% in the EU25, after +1.2% and +1.5% respectively in the previous quarter.

In the third quarter of 2005 and among the Member States for which data are available, Finland (+2.9%) recorded the highest growth rate, followed by Estonia (+2.6%) and Lithuania (+2.4%). A decrease was recorded only in Portugal (-0.9%).

Private consumption increasing, investments and exports accelerating

In the third quarter of 2005, household final consumption expenditure grew by 0.3% in the euro-zone and by 0.4% in the EU25 (after +0.2% and +0.3% respectively in the second quarter).

Investments grew by 1.3% in the euro-zone and by 1.5% in the EU25 (after +0.9% and +1.0%).

Exports rose by 3.3% in the euro-zone and by 2.9% in the EU25 (after +2.2% and +2.6%). Imports increased by 2.8% in both zones (after +2.5% and +2.8%).

Among the Member States for which data are available, growth rates of household final consumption ranged from -1.4% in Portugal to +3.3% in Lithuania.

Growth of gross fixed capital formation varied between -8.4% in Belgium and +5.8% in Lithuania.

Exports grew most strongly in Slovakia (+8.1%) while Portugal (-0.6%) recorded the strongest decrease.

Imports rose the most in Greece (+10.8%) while they fell only in Portugal (-0.7%).