Economic growth 2.5 percent in first quarter

05/07/2007 15:00

The volume of the gross domestic product (GDP) was 2.5 percent larger in the first quarter of 2007 than in the same quarter of 2006. In 2007, the first quarter counted one working day fewer than the same period in 2006. After correction for calendar and seasonal effects, GDP volume was up 0.9 percent on the fourth quarter of 2006. 

Investments continue to grow. In the first quarter investments were up by 8.9 percent on the same quarter of 2006. The volume of exports of goods and services was up by 6.2 percent on the same quarter last year. Just as in previous quarters, imports grew by slightly more than exports. The volume of imports was 6.5 percent up on the same period a year before.

Households spent 1.4 percent more than twelve months previously. The relatively modest growth was accounted for by a drop in gas consumption. The increase in spending on durable consumer goods remained robust. The volume of government consumption was 2.1 percent up on the first quarter in 2006.

Industrial production is booming, and construction output also increased strongly, because of the mild temperatures in the first quarter. The production of gas on the other hand dropped sharply compared to the same quarter in 2006. Commercial services did well too, particularly trade, business service providers and temp agencies.

Disposable for final expenditure and final expenditure (volume)

Disposable for final expenditure and final expenditure (volume)