Euro-zone and EU15 GDP grew both by 0.4 per cent during the third quarter of 2003, compared to the previous quarter, according to first estimates from Eurostat, the Statistical Office of the European Communities.
In the second quarter of 2003, growth rates were -0.1 per cent for the euro-zone and 0.0 per cent for the EU15.
Compared to the third quarter of 2002, GDP grew by 0.3 per cent in the euro-zone and by 0.6 per cent in the EU15, after +0.1 per cent and +0.4per cent respectively in the previous quarter.
During the third quarter of 2003, household final consumption expenditure remained stable in the euro-zone and grew by 0.1 per cent in the EU15 (after +0.1 per cent and +0.2 per cent respectively in the second quarter of 2003.
Investments fell by 0.5 per cent in the euro-zone and by 0.6 per cent in the EU15 after -0.5 per cent and -0.4 per cent during the previous quarter.
Exports grew by 2.2 per cent in the euro-zone and by 1.9 per cent in the EU15 after -0.6 per cent and -0.7 per cent in the previous quarter while imports decreased by 0.4 per cent in the euro-zone and by 0.1 per cent in the EU15 after -0.2 per cent and -0.5 per cent in the second quarter of 2003.
During the third quarter of 2003, total gross value added grew by 0.5 per cent in both the euro-zone and the EU15, after -0.1 per cent and 0.0 per cent respectively in the previous quarter.
Compared to the third quarter of 2002, total gross value added was up by 0.4 per cent in the euro-zone and by 0.7 per cent in the EU15.
Meanwhile, in the United States, GDP recorded an increase of 2.0 per cent during the third quarter of 2003, after +0.8 per cent in the previous quarter while in Japan GDP grew by 0.6 per cent during the third quarter of 2003, after +0.9 per cent in the previous quarter.