The Statistical Service has revised up its latest estimates for gross domestic product (GDP) in 2006 and 2007.

GDP in 2006 is estimated at EUR 15,565.6 mln (EUR 15.6 bln) in 2007, compared with an estimate of EUR 15,490.2 mln made in December 2007.

The estimate for 2006 was revised up to EUR 14,435.2 mln from EUR 14,393.6 mln
in 2006.

The estimated growth rate in real terms remained the same for 2007, at 4.4% but was revised slightly upwards for 2006, to 4.1% from an estimated 4% last December.

By sector, the most significant upward revisions to 2007 growth rates were made to construction (now estimated at 7.5% growth, compared with 5.7% before) and wholesale and retail trade (7% compared with 5.5%).

Financial intermediation, on the other hand, was revised down, to 9% compared with 11% earlier.

Financial Mirror, August 05, 2008