Due to the strong domestic demand and continuing strong export momentum, the Euro Zone Gross domestic product could be revised higher. However, the fact that the latest GDP numbers for France were lower than expected the rise in EMU GDP growth could be revised down slightly to 0.5% q-o-q.
The OECD said the euro zone's growth outlook is brightening, but warned of risks from a rise in the euro and higher longer-term interest rates in the event of a sharp unwinding of global current-account imbalances.
"Following a spell of weakness in the latter part of 2005, notably in the three major countries, activity in the euro area appears to have gathered strength so far in 2006 as business and consumer confidence improved," it said.
According to Thomas Hueck, economist at HVB Group: “the components will be released together with the second GDP Flash for the eurozone. This should confirm the expected recovery in private consumption and still brisk corporate investment activity as the drivers of the acceleration in growth. However, the fact that the latest GDP numbers for France were lower than expected could trigger a slight downward revision of the first GDP Flash to 0.5% q-o-q.”