Press Release: Quarterly euro-area GDP growth projections in the range of 0.4% to 0.8% for the first quarter of 2006, 0.3% to 0.8% for the second quarter and 0.2% to 0.8% for the third quarter

The dynamic factor model for quarterly GDP growth in the euro area, developed by the European Commission’s Directorate General for Economic and Financial Affairs, projected a range of 0.4% to 0.8% for GDP growth in the first quarter of 2006, slightly lower than the previous release (3 March 2006). The projected range for GDP growth was 0.3% to 0.8% in the second quarter and 0.2% to 0.8% in third quarter, both revised marginally downwards.