1st Quarter 2011 GDP growth rates for Europe & the US

[Tender Branson]

Q1 2011 compared with Q4 2010:

+3.5% Lithuania
+2.1% Estonia
+1.5% Germany
+1.0% Austria
+1.0% Belgium
+1.0% France
+1.0% Slovakia
+0.9% Netherlands
+0.8% Greece
+0.7% Hungary
+0.6% Czech Republic
+0.6% Romania
+0.5% UK
+0.4% Bulgaria
+0.3% Finland
+0.3% Spain
+0.2% Latvia
+0.1% Italy
  0.0% Cyprus
- 0.7% Portugal

No data so far for Denmark, Ireland, Luxembourg, Malta, Poland, Slovenia & Sweden

+0.4% US

Q1 2011 compared with Q1 2010:

+8.0% Estonia
+6.8% Lithuania
+5.2% Finland
+4.8% Germany
+4.0% Austria
+3.6% Slovakia
+3.2% Netherlands
+3.1% Latvia
+3.0% Belgium
+2.5% Bulgaria
+2.5% Czech Republic
+2.2% France
+2.2% Hungary
+1.8% UK
+1.7% Cyprus
+1.0% Italy
+0.8% Spain
+0.3% Romania
- 0.7% Portugal
- 4.8% Greece

+2.3% US

No data so far for Denmark, Ireland, Luxembourg, Malta, Poland, Slovenia & Sweden

http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/2-13052011-AP/EN/2-13052011-AP-EN.PDF

[Landslide Lyndon]

At last, a glimmer of hope after the most depressing week in years.

[Tender Branson]

The Austrian WIFO estimates the growth rate slightly higher than Eurostat, at 4.2%

http://www.wifo.ac.at/wwa/downloadController/displayDbDoc.htm?item=P_2011_05_13$.PDF

The German DESTATIS estimates the growth rate also slightly higher, at 5.2%

http://www.destatis.de/jetspeed/portal/cms/Sites/destatis/Internet/EN/press/pr/2011/05/PE11__188__811,templateId=renderPrint.psml

...

This huge growth already leads to record tax revenues in the 2 countries. In Germany the tax revenues will already be higher this year than in 2008, before the economic crisis started. Total tax revenue in Germany will increase from 555 Bio. € this year to about 652 Bio. € in 2015.

In Austria, tax revenues are up by about 12% in the first 3 months of 2011 compared with a year ago and they will be higher this year than in 2008.