Press Release: Commission indicator forecasts euro area quarterly GDP growth of 0.2% to 0.6% for both the 1st quarter and the 2nd quarter of 2005

The indicator-based model for quarterly GDP growth for the euro area, developed by the European Commission's Directorate General for Economic and Financial Affairs, forecast a range of 0.2% to 0.6% for GDP growth in the first quarter and the second quarter of 2005. Compared to the previous release of the GDP indicator, this was a downward revision of 0.1 of a percentage point for the first quarter of 2005.