Substantial economic growth in fourth quarter

The volume of the gross domestic product (GDP) was 2.7 percent larger in the fourth quarter of 2006 than in the fourth quarter of 2005. This put economic growth almost at the same level as in the third quarter. The fourth quarter of 2006 had one working day fewer than the fourth quarter of 2005.

After correction for calendar and seasonal effects, GDP volume was up by 0.6 percent on the third quarter of 2006. This quarter-on-quarter growth rate is about the same as that of the first six months of the year.

Households spent 2.0 percent more than the year before. The increase in spending on durable consumer goods remained high, but - just as in the third quarter - was less exuberant than in the first six months of 2006. The volume of government consumption was 1.2 percent higher than twelve months previously.

The volume of exports of goods and services was up by 7.9 percent. This rise in exports was slightly higher than in the second and third quarters. Just as in previous quarters imports grew by slightly more than exports.

Investments continue to grow. In the fourth quarter investments were up by 10.2 percent on the same quarter of 2005. Production increased in most sectors of industry, but by most in commercial services, manufacturing and construction. Growth rates in government production were modest. Energy production was lower.

Disposable for final expenditure and final expenditure (volume)