Euro zone GDP grows in second quarter

The euro zone's Gross Domestic Product (GDP) grew by 0.9 percent in the second quarter of 2006, according to revised estimates from Eurostat, the statistical service of the European Union (EU), published on Wednesday.

In the first quarter of 2006, the GDP growth rate in the euro zone was 0.8 percent. It rose by 2.7 percent and reached 0.9 percent in the second quarter. Compared with the second quarter of 2005, it grew 2.9 percent.

In the second quarter of this year, household final consumption expenditure increased by 0.3 percent in the euro zone and by 0.4 percent EU-wide. Investment grew forcefully by 2.1 percent and 1.8 percent respectively.

Meanwhile, exports rose by 1.2 percent in the euro zone and by 1.9 percent across the whole EU. Imports increased by 1.2 percent and 1.7 percent respectively.

Among the main partners of the EU, the GDP in the second quarter of 2006 increased by 0.6 percent in the United States and by 0.2 percent in Japan.

Compared to the second quarter of 2005, the GDP rose by 3.5 percent in the United States and by 2.5 percent in Japan.

Source: Xinhua