Euro zone Q2 GDP up 0.3 pct from Q1, unchanged vs provisional estimate

Sep 4, 2007 - Euro zone GDP grew 0.3 pct in the second quarter from the first, and was up 2.5 pct year-on-year, EU statistics office Eurostat said.

The figures are unchanged from Eurostat's provisional estimates, published on Aug 14.

Eurostat gave a breakdown of second quarter GDP for the first time.

It said household consumption rose 0.5 pct quarter-on-quarter, investment fell 0.5 pct and government spending rose 0.1 pct.

Household consumption made a positive contribution of 0.3 percentage points to the quarterly GDP figure, while investment made a contribution of 0.0 points.

Changes in inventories made a negative contribution of 0.1 points and government spending accounted for 0.0 percentage points of the GDP increase.

Meanwhile, the European Commission left its growth forecasts unchanged for growth in the third, fourth and first quarters.

The commission forecasts growth of 0.3-0.8 pct for the third quarter, 0.2-0.8 pct for the fourth quarter, and 0.2-0.9 pct for the first quarter of 2008.