Luxembourg, 09/03/2001 (Agence Europe) - According to the first estimates published by Eurostat on 8 March, the GDP of the euro zone and that of the European Union (EU15) increased 0.7% during the fourth quarter 2000 compared to the previous quarter. The results follow growth of 0.5% in the euro-zone and 0.6% in the EU15 during the third quarter 2000.
Compared to the third quarter of last year, exports recorded a strong growth in the euro-zone and in the EU15 (+3.3% and 3.1% respectively), as did imports (+3.2% and +2.8%), while investments fell by over 50%. Growth in final consumption expenditure of households accelerated slightly. Sector-specific indicators, moreover, indicate that it is the trade, transport and communication industry that recorded the highest growth, with a growth rate of 1.3% in both the euro-zone and in the EU15. On the other hand, the financial services and business activities did not confirm the growth of the previous quarter, increasing by +0.9% in both areas. Construction recorded better results than in the previous quarter (+0.4% in both areas). Agriculture recorded a negative result (-0.1% in the euro-zone and -0.4% in the EU15).
By way of comparison, Eurostat stresses that the US economy recorded lower growth than in the EU during the fourth quarter 2000 (0.3%). Household consumer spending slowed down in the United States compared to the third quarter, as did investment, exports and imports.
Finally, the European Communities' Statistical Office reports that, during the year 2000, the GDP of the euro-zone and that of the EU15 recorded growth (of 3.4% and 3.3% respectively) a large increase compared to 1999 (+2.5% for both areas). This growth is attributed to the dynamics of external trade, with a strong rise in exports (11.7% in the euro-zone; 10.9% in the EU15) and imports (10.4% and 10% respectively). Household final consumer expenditure and investment recorded a slightly lower growth than in 1999 both in the euro-zone and in the EU. During the year 2000, the growth in the US economy also accelerated, reaching 5% as opposed to 4.2% in 1999.