Brussels, 16/07/2001 (Agence Europe) - According to the latest figures provided last Friday by Eurostat, growth of Gross Domestic Product (GDP) in the euro-zone is estimated at +0.6% during the first quarter of 2001 compared to June (+0.5%) and that of the EU15, at 0.5%. Compared to the first quarter of 2000, GDP in the euro-zone and that of the EU15 both increased 2.6% after a rise of 2.9% in both areas during the previous quarter. The highest rate of growth was noted in the industry sector, including energy (+1.4% in the euro-zone and +1.1% in the EU15), followed by the financial services sector (+0.8% in the euro-zone and +0.9% in the EU15). The least successful sector is construction (-1.1% in the euro-zone and -0.6% in the EU15).
The highest rates of growth for GDP during the first quarter 2001 were recorded in Spain (+1.0%) and Italy (+0.8%), and the lowest rate was in Denmark (-1.2%). Growth speeded up in Germany, Spain and the United Kingdom and remained stable in Sweden and Italy. There was a slowdown in Belgium, France, the Netherlands and Austria and negative growth in Finland and Denmark.
Among the main components of domestic demand, the final consumer spending of households recorded the highest rate of growth in Denmark and Finland (+1.3% each). The Netherlands is the only country where household consumer spending fell (-1.7%). Gross fixed capital formation was the highest in Spain (+2.0%), while major falls were observed in the United Kingdom (-2.7%) and German (-2.4%). The most sustained growth in exports was recorded in Italy and the United Kingdom (+1.4% for each), the lowest in Finland (-3.3%). For imports, the highest growth was noted in the United Kingdom (+2.2%). Germany (-3.7%) and Finland (-2.6%) were those with the strongest downturns. By way of comparison, the growth of GDP was +0.3% in the United States and -0.2% for Japan.