Private consumption Government consumption Gross fixed capital formation Exports ( goods and services ) Imports ( goods and services ) 1 )

Private consumption growth is also expected to be subdued .

Private consumption Government consumption Gross fixed capital formation Exports ( goods and services ) Imports ( goods and services ) 1 )

Real GDP Private consumption Government consumption Gross fixed capital formation Exports ( goods and services ) Imports ( goods and services )

HICP Real GDP Private consumption Government consumption Gross fixed capital formation Exports ( goods and services ) Imports ( goods and services )

Real GDP Private consumption Government consumption Gross fixed capital formation Exports ( goods and services ) Imports ( goods and services )

Private consumption is also expected to be affected by modest income dynamics .

By contrast , government expenditure ( both consumption and capital expenditure ) continued to grow and the contraction in private consumption was more moderate .

Moreover , private consumption is likely to evolve in line with the development of real disposable income .

According to the assessment of banks , as explained in the Eurosystem 's bank lending survey , financing needs related to real economic activity namely for inventories , working capital and fixed capital investments have gradually increased in importance in explaining the continued strengthening of loan demand in the euro area in 2006 .

Private consumption growth is also expected to be subdued in the period ahead .

Differences in consumer credit may in turn stem from diverse patterns of household disposable income and private consumption across countries .

All in all , the domestic demand recovery was resilient , notwithstanding a significant slowdown in private consumption growth in 2006 as compared with the previous year .

Growth in private consumption is expected to be supported by favourable labour market trends .

2007 HICP Real GDP Private consumption Government consumption Gross fixed capital formation Exports ( goods and services ) Imports ( goods and services ) 2.1 2.7 1.6 2.1 4.7 5.7 5.2

2008 HICP Real GDP Private consumption Government consumption Gross fixed capital formation Exports ( goods and services ) Imports ( goods and services ) 3.3 0.8 0.5 2.1 0.3 1.8 1.8

2006 HICP Real GDP Private consumption Government consumption Gross fixed capital formation Exports ( goods and services ) Imports ( goods and services ) 2.2 2.9 1.9 1.9 5.2 8.2 7.9

2007 HICP Real GDP Private consumption Government consumption Gross fixed capital formation Exports ( goods and services ) Imports ( goods and services ) 2.1 2.6 1.6 2.3 4.2 5.9 5.4

2009 HICP Real GDP Private consumption Government consumption Gross fixed capital formation Exports ( goods and services ) Imports ( goods and services ) 0.3 4.1 1.2 2.6 10.8 13.2 12.0

2006 HICP Real GDP Private consumption Government consumption Gross fixed capital formation Exports ( goods and services ) Imports ( goods and services ) 2.2 2.8 2.0 2.3 4.9 8.3 7.9

2006 HICP Real GDP Private consumption Government consumption Gross fixed capital formation Exports ( goods and services ) Imports ( goods and services ) 2.2 2.9 1.8 2.0 5.1 8.5 8.0

Private consumption is projected to be dampened by a deteriorating labour market and low confidence .

However , other indicators pointed to some resilience of growth in private consumption to higher oil prices .

Fairly sustained growth in private consumption largely accounted for strong domestic demand growth .

Private consumption should grow broadly in line with expected developments in real disposable income .

The slower GDP growth in 2007 was mainly due to developments in private consumption and residential investment .

In Japan , the economic recovery continued in 2007 , although domestic demand and in particular private consumption weakened .

The momentum of the recovery mainly reflected stronger exports and , following a long period of stagnation , an initial strengthening of private consumption .

Moreover, the revision was based mainly on personal consumption and business investment the most stable and persistent components of GDP.

Economic activity rapidly gained momentum at the start of 2005 , supported by a strong expansion in private consumption and non residential investment .

As regards the domestic contribution to growth , growth in private consumption continued to be subdued in 2005 ( see Table 3 ) . This was partly a result of low increases in real disposable income , reflecting restrained growth in nominal income and the rise in energy prices .

Private consumption growth is expected to rise modestly in 2010 before gradually picking up further the following year .

Private consumption is expected to be affected by the adverse commodity price developments , which weigh on real disposable income .

Reflecting continued weaknesses in the labour market and the income situation , private consumption spending was relatively sluggish .

The underperformance of these sectors suggests that the earnings outlook of companies more dependent on private consumption was comparatively weak in 2005 .

In the United Kingdom , private consumption growth was sustained by the strong performance of the labour market and growth in housing wealth .

The ten countries Algeria, Angola, Egypt, Ghana, Kenya, Morocco, Nigeria, South Africa, Sudan, and Tunisia accounted for 81 of Africa s private consumption in 2011.

The lower growth in private consumption can to some extent be explained by the losses in real income related to the increase in oil prices .

Private consumption was spurred by increasing gains in real disposable income , associated with accelerated wage increases and rising employment .

The rise in domestic demand was linked to an improvement in investment growth and an increase in stockbuilding , while growth in private consumption was unchanged and government consumption was weaker than in 1996 ( see Table 2 ) .

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Final consumption expenditure Individual consumption expenditure Collective consumption expenditure

Throughout the year , growth in domestic demand remained robust . However , growth in private consumption and , to a lesser

Stagnant employment , higher commodity prices and adverse effects from equity and house prices are projected to weigh on private consumption .

Among debt instruments , the euro area experienced net inflows in bonds and notes ( Euros 21.0 billion ) and small net outflows in money market instruments ( Euros 9.7 billion ) in 2002 .