Press Release: Quarterly euro-area GDP growth projections in the range of 0.4% to 0.9% for the first, second and third quarter of 2006

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 0.9% for GDP growth in the first quarter of 2006, slightly revised upwards compared to the previous release of 13 January 2006. The projected range for GDP growth in the second and third quarter of 2006 was also 0.4% to 0.9%. The projection for the second quarter remained unchanged compared to the previous release.