Preliminary GDP for the first quarter in the euro area was up to expectations

Preliminary GDP for the first quarter in the euro area was 0.6%, Eurostat, the Statistical Office of the European Communities reported today. The index was up to analysts’ expectations, but below GDP increase in the forth quarter of 2006 (0.9%).
The annual preliminary GDP for the first quarter was 3.0%, below annual GDP in the forth quarter of 2006 (3.3%) and estimates (3.1%). Exports rose in the first quarter by 0.3%. Imports fell by 1.6%, which provided positive trade balance.