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Image header Agence Europe
Europe Daily Bulletin No. 8477
Contents Publication in full By article 18 / 31
GENERAL NEWS / (eu) eu/economy

05/06/2003 (Agence Europe) - According to the Commission's indicator forecasts for the euro area quarterly GDP, growth will be between 0% to 0.4% for 2nd and 3rd quarter of 2003. Euro-zone GDP remained stable and EU15 GDP grew by 0.1% during the first quarter of 2003 compared to the previous quarter, according to first estimates out from Eurostat. These results follow an increase of 0.1% in both zones in the fourth quarter of 2002. Compared to the first quarter of 2002, GDP grew by 0.8% in the euro-zone and by 1.0% in the EU15, after increases of 1.2% and 1.4% respectively in the previous quarter. The euro zone has not experienced such low growth since the last quarter of 2001 and only positive figures from France and Spain were able to compensate the contractions experienced in Germany and Italy, thus preventing the whole of the zone from experiencing negative growth, noted a Eurostat official quoted by Reuters. France had 0.3% growth from one quarter to the next and Spain had 0.5% growth but Germany saw its economy contract by 0.2% and Italy by 0.1%.

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