European quarterly national accounts are compiled in accordance with the European System of Accounts 1995 (ESA95). The flash estimate of first quarter 2010 GDP growth presented in this release is based on Member States’ data as available, directly covering 95% of EA16 GDP (89% of EU27 GDP). For more details of the flash methodology please refer to News Release 55/2003 of 15 May 2003. Simulations and previously published flash estimates have shown the flash estimation procedure to be reliable. Over the last 37 quarters, the flash estimate of GDP growth on the previous quarter for the euro area (EA12) when compared to the following first regular release has led to an average revision of less than 0.01 percentage points. It correctly anticipated the acceleration or deceleration of growth 32 times. The value of the growth rate was correctly anticipated 32 times and differed by ±0.1 percentage points 5 times. With this flash estimate, euro area and EU GDP figures for earlier quarters are not revised, so the growth rates till the fourth quarter 2009, published in News Release 48/2010 of 7 April 2010, remain unchanged. All figures presented in this release are subject to further revision with the two regular estimates of GDP for the first quarter 2010, scheduled for 4 June 2010 and 7 July 2010. First estimates for National Accounts employment in the first quarter 2010 are scheduled for 15 June 2010.