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QUARTERLY ACCOUNTS Fourth Quarter 2003 Output Side
- Share to:
The growth of total gross value added (GVA) during the fourth quarter of 2003 was 0.2% in the euro-zone and slightly higher at 0.3% in the EU15. In both cases, these results were worse than those recorded in the previous quarter (+0.5% in both zones). Compared to the same quarter of the previous year, GDP growth was equal to +0.6% in the euro-zone and to +0.9% in the EU15. The same results were observed for GVA. In the euro-zone, two out of six branches of economic activity gave a significant positive contribution to GDP growth, where significant means a contribution larger than 0.05 percentage points GDP growth. The contribution was +0.1 of GDP variation for each of Industry and Other services. On the other hand, Business activities and financial services, Agriculture and Construction, did not contribute significantly, while Trade, transport and communication services showed a negative contribution equal to -0.1 percentage points. Similar patterns were recorded in the EU15, with the only difference that the contribution made by Business activities and financial services was slightly larger, amounting to +0.1 percentage point.