Brussels, 18/01/2001 (Agence Europe) - According to estimates published on 16 January by Eurostat, the GDP of the euro-zone and that of the Fifteen (EU15) increased 0.7% and 0.6% respectively over the third quarter of 2000, as opposed to 0.9% for the two areas during the previous quarter. During the same period, the US economy recorded a GDP growth of 0.5%. Furthermore, the Statistical Office of the European Communities has announced its intention to publish quarterly National Accounts coverage for production.
Figures on economic growth during the last third quarter show a slight slowdown compared to the previous quarter, when the rise had been estimated at 0.9% of GDP for the two areas considered. Growth recorded during the third quarter of 2000 can mainly be explained by the rise in investment (+1.3% for the euro-zone and +1.1% for the EU15, against +0.8% and +0.9% respectively during the previous quarter) as well as the acceleration in exports (+3% in the euro-zone and +2.8% in the EU15, compared to +2.3% and +2.4% respectively during the second quarter 2000). Growth in the final consumer spending of households fell clearly compared to the second quarter 2000 (+0.3% in the euro-zone and +0.4% in the EU15, as opposed to +0.7% and +0.8% respectively). Finally, still during the third quarter of 2000, the total added value increased 0.9% in the euro-zone and by 0.8% in the EU15, after a 0.8% rise in the two areas during the second quarter 2000. The highest rate of growth was notched up in the corporate services sector and financial services, followed by industry. Agriculture registered an increase compared to the previous quarter, as did the construction industry, which, however, had the lowest rate of growth.
Eurostat also announced its intention to henceforth include, in its quarterly data from national accounts, figures based on production. These figures will complete the data traditionally published according to an "expenditure" approach. They will indicate, with quarterly figures, the share of economic growth that can be attributed to the different branches of production and will allow a study to be made of the production structure of the European economy. By thus extending coverage of National Accounts, Eurostat plans to meet a request frequently made of it by users and to improve the possibilities of economic analysis for both the euro-zone and for the EU15.