Brussels, 15/07/2005 (Agence Europe) - Eurostat's revised estimations for the first quarter of 2005 point to growth in GDP in the euro zone and the EU of 25 compared to the previous quarter. Taken annually, the growth rate was 1.4% and 1.6% respectively, compared to 1.5% and 1.9% respectively in the last quarter of 2004. Of the 23 Member States for which data are available, Greece recorded the highest growth rate (2.4%) in the first quarter of 2005, followed by Latvia (2%) and Estonia (1.8%). Drops were observed in Malta (-5.9%), the Netherlands (-0.8%) and Italy (-0.5%). The increase in GDP in the United States was 0.9% in the first quarter of 2005, which was unchanged on the previous quarter, but it has taken off considerably in Japan, going from 0.1% in the fourth quarter of 2004 to 1.2% for the first months of this year. As an annual rate, their respective growth rates were 3.7% and 0.9%
According to the Commission's forecasts, the increase in economic activity in the euro zone is likely to be between 0.1% and 0.5% in the second quarter of 2005 and between 0.2% and 0.6% in the third, figures which are unchanged from previous estimates.