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Europe Daily Bulletin No. 9131
Contents Publication in full By article 11 / 48
GENERAL NEWS / (eu) eu/ecofin

Despite disappointing growth in 2005, Minsters remain optimistic for 2006 - updated forecasts next week

Brussels, 14/02/2006 (Agence Europe) - After the Ecofin Council of 14 February, Commissioner Almunia gave his reaction to the latest growth figures for the fourth quarter of 2005, saying that the “disappointing” results were “not really a surprise”. Retail sales and industrial production were not as good as had been expected, he accepted. In the fourth quarter of 2005, the GDP of the euro-zone rose by 0.3%, and that of the EU-25 by 0.4% compared with the previous quarter. In its autumn forecast, the Commission predicted a little more, with 0.4% for the euro-zone (see EUROPE 9070). The figures for 2005 as a whole (1.3% for the euro-zone and 1.5% for the EU-25) will, however, remain unchanged, said Mr Almunia. He will await next week before given his forecasts for 2006. It is then that the Commission will announce its interim expectations of its usual seasonal forecasts. “All the indicators are pointing towards a boost to the economy,” said Karl-Heinz Grasser. The President of the Ecofin Council, while being fully aware of he risks, believes nonetheless that there is every reason to be optimistic.

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