EUROFRAME - European Forecasting Network. Economic Assessment of the Euro Area: Forecasts and Policy Analysis Spring Report 2007. Special Policy Issue: Growth and Employment in the EU15. March 2007

Author, No (2007) EUROFRAME - European Forecasting Network. Economic Assessment of the Euro Area: Forecasts and Policy Analysis Spring Report 2007. Special Policy Issue: Growth and Employment in the EU15. March 2007. UNSPECIFIED.

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Abstract

The upturn in the Euro Area that was noted in our Autumn Report of 2006 continued in the second half of 2006. The slower growth in the third quarter that followed the strong rise in output in the first half of the year proved to be temporary. In the fourth quarter real GDP growth rebounded to a quarterly rate of 0.9 per cent. This brought GDP growth to 2.8 per cent in 2006 on a working day adjusted basis (2.6 per cent unadjusted), slightly above the forecast made by EUROFRAME-EFN in the Autumn report. In the fourth quarter output was 3.3 per cent higher than a year earlier, which is the best performance since 2001.

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