North Atlantic low-frequency changes of volume and heat transports in the ECCO state estimates K. Lorbacher, A. Koehl and D. Stammer, SIO From a solution of the global ECCO state estimation we diagnose the low-frequency (seasonal to interannual) variability of meridional volume and heat transports between 20N and 60N in the North Atlantic Ocean. The model transports are compared with estimates across the nominal "48N"-section (WOCE/A2) -- reaching from the English Channel to the Grand Banks -- where a coherent hydrographic data set was obtained during seven cruises from 1993 to 2000. The standard deviation of the monthly-mean anomalies of the simulated overturning rate at "48N" amounts to 2 Sv and of the heat transport to 0.08 PW, respectively; the year-to-year variability is half of those numbers. In contrast to the model simulations, the observed amplitudes lie 50% above the model transport variations on interannual timescale. The percentage of the different components contributing to the total heat transport in the model is consistent with the estimates from the observations: In the time-mean, the baroclinic component of the heat transport contributes 80% to the total integral and the Ekman component 10%. However, the latter explains 90% of the diagnosed low-frequency variability. In the observations the baroclinic component is mainly responsible for interannual variations and thereby changes in the sign of the horizontal component appears to be dynamically relevant. From the model output we compute error bars on the observed transport estimates to test their representativeness of low-frequency variability.