Brussels, 04/03/2004 (Agence Europe) - According to figures published on Thursday by Eurostat, growth in the last quarter of 2003 grew by 0.3% in the euro zone and 0.4% in the whole of the EU (EU15) compared to the previous quarter, due to a boost in investments at the end of the year, and despite a fall in exports caused by the euro's growth. Compared to the fourth quarter of 2002, euro zone GDP increased by 0.6% and that of the EU15 by 0.9%. In 2003 overall, growth rose to 0.4% of GDP in the euro zone and 0.7% of GDP in the EU15, as against +0.9% and +1.0% respectively in 2002.
During the last quarter of last year, household final consumption expenditure rose by 0.1% in the euro zone and by 0.3% in the EU15. Investments grew by 0.6% in the euro zone and by 0.8% in the EU15 (after -0.2% and +0.1% in the previous quarter). Exports registered a growth of 0.2% in the euro zone and of 0.5% in the EU15 (after +23.3% and +1.9% in the previous quarter), and imports by 2.1% in both zones (after +0.8% in both zones in the third quarter of 2003). During the fourth quarter of 2003, gross added value in industry rose by 0.7% in the euro zone and by 0.6% in the EU15, that of construction rose by 0.1% in the euro zone and by 0.5% in the EU15, and that of the trade, transport and communications sector fell by 0.3% in the euro zone and by 0.1% in the EU15. The value added of financial activities marked a slight growth (+0.1% and +0.3%). Agriculture grew by 1.1% in the euro zone and by 0.9% in the EU15.
Furthermore, the European Commission continues to forecast growth in the euro zone between 0.3% and 0.7% of GDP in the first quarter, as in the second quarter of 2004.