Looking forward, incoming data as well as survey indicators confirm the view that the outlook for euro area growth remains positive. Eurostat’s recent flash estimate of real GDP growth of 0.6% in the first quarter was slightly higher than expected, underlining the continuing strength of the euro area economy.
1  According to the Spring 2007 forecast of the European Commission, world real GDP growth is expected to be 4.8% in both 2007 and 2008; in the latest IMF World Economic Outlook, annual global growth is forecast at 4.9% in both 2007 and 2008.