Brussels, 03/12/2003 (Agence Europe) - The euro zone has recovered growth of 0.4% of GDP during the third quarter 2003 after having just missed recession during the first part of the year, according to data published by Eurostat on Wednesday confirming its provisional estimate of 14 November. In the EU15, growth also reached 0.4%. Improvements within the euro zone come after a 0.1% of GDP fall during the second quarter 2003 and stagnation during the first and last quarter 2002. Over one year, the GDP of the euro zone will only have progressed 0.3%. Recovery during the third quarter was helped along by foreign trade, thanks to a jump ahead in exports of 2.2% (imports decreased 0.4%), while domestic demand did not contribute as household spending remained stable and business investment fell by 0.5%.
Furthermore, the European Commission maintains its euro zone growth forecast for the fourth quarter the same order as for the third, between 0.2 and 0.6%. Recovery is expected to then accelerate during the first quarter 2004, between 0.3% and 0.7%, according to the monthly provisional estimates published the same day.