Euro zone GDP grew by 0.5 percent in the third quarter of 2006, according to revised estimates published Thursday by Eurostat, the statistical service of the European Union (EU).

For the whole 25-nation EU, GDP grew 0.6 percent in the third quarter. In the second quarter of 2006, growth rates were 1.0 percent in both the euro zone and the whole EU.

In comparison with the same quarter of the previous year, seasonally adjusted GDP in the third quarter of 2006 grew by 2.7 percent in the euro zone and by 3.0 percent EU-wide, after 2.9 percent and 3.0 percent respectively in the previous quarter.

Of the EU member states where seasonally adjusted GDP data are available, Latvia recorded the highest growth rate of 3.5 percent in the third quarter of 2006, followed by Estonia (2.8 percent), Slovakia (2.7 percent) and Ireland (2.6 percent).

Meanwhile, household final consumption expenditure grew by 0.7 percent in the euro zone and by 0.6 percent in the whole European bloc. Investment grew by 0.6 percent and by 0.9 percent respectively.

Exports rose by 1.8 percent in the euro zone and remained unchanged for the EU. Imports increased by 2.4 percent and by 0.4 percent respectively.

Source: Xinhua