July 30, 2024

According to a preliminary flash estimate issued by Eurostat, the European Union’s statistical office, seasonally adjusted GDP increased by 0.3% in both the Euro Area and the EU in the second quarter of 2024 compared to the previous quarter. In the first quarter of 2024, GDP increased by 0.3% in both zones.

In the second quarter of 2024, seasonally adjusted GDP expanded by 0.6% in the Euro Area and 0.7% in the EU, compared to the same quarter the previous year, following a +0.5% in the Euro Area and +0.6% in the EU.

Among the Member States with data available for the second quarter of 2024, Ireland (+1.2%) saw the greatest growth compared to the previous quarter, followed by Lithuania (+0.9%) and Spain (+0.8%). Latvia (-1.1%), Sweden (-0.8%), and Hungary (-0.2%) had the steepest drops. Eight countries reported positive year-on-year growth rates, while three reported negative rates.

(Source: Eurostat)

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