Press Release: Quarterly euro-area GDP growth projections in the range of 0.4% to 0.8% for the last and the current quarter and 0.4% to 0.9% for the second 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 the following ranges for quarterly growth: 0.4% to 0.8% in the fourth quarter of 2005; 0.4% to 0.8% in the first quarter of 2006; and 0.4% to 0.9% in the second quarter of 2006.