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The Q1 growth rate of GDP compares to the 4.1% recorded in the last quarter of 2004 as well as for the year as a whole. According to seasonally adjusted figures, GDP grew 0.7% in Q1 compared to the previous quarter. Adjusted for the leap day in the base period, GDP growth in Q1 was 3.5%, the KSH said.
Value added in the production sectors was up 1.5% on the year, while services showed 3.6% growth in Q1. Detailed, final information on Q1 GDP, including the consumption side, will be published on June 9.
In line with its publication schedule, the KSH also published revised GDP growth figures for individual quarters of 2003 as well as 2004, following the release of revised aggregate yearly figures earlier in May. The revised data also include adjustments for calendar effects and the leap day in early 2004, which affected Q1 GDP growth in 2004 as well as this year.
According to the revised figures, GDP growth last year was 4.2% unadjusted and 4.1% when adjusted for calendar effects, as opposed to the originally estimated 3.8%.
