Growth in GDP and Employment in the Euro Area: First Quarter of 2024
Eurostat, the statistical office of the European Union, has published its preliminary estimate on GDP and employment growth in the euro area and the EU for the first quarter of 2024. The data reveals a 0.3% increase in seasonally adjusted GDP in both the euro area and the EU compared to the previous quarter.
This growth of 0.3% contrasts with the slight contraction of 0.1% that the euro area GDP experienced in the fourth quarter of 2023, while the EU GDP remained stable in the same period. The economic improvement is also reflected in the year-on-year data: in the first quarter of 2024, seasonally adjusted GDP increased by 0.4% in both regions, compared to +0.1% in the euro area and +0.2% in the EU observed in the previous quarter.
In addition to GDP growth, employment in the euro area also recorded an increase of 0.3% in the first quarter of 2024, a positive sign of economic recovery and job stability.
This economic rebound suggests a gradual recovery after the slowdown seen at the end of last year. The figures published by Eurostat are an encouraging indication for markets and economic policy makers, who seek to consolidate and promote growth in the midst of an uncertain global context.
Eurostat's preliminary estimate provides a basis for assessing current and future economic trends, underlining the importance of continuing policies that support sustainable growth and employment across the region.
For more information, consult Eurostat:
PUBLICATION
