GDP up 0.3% in Q2 in euro area and EU: Eurostat

BRUSSELS: In the second quarter of 2024, seasonally adjusted GDP increased by 0.3 percent in both the euro area and the EU, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union. Eurostat noted that in the first quarter of 2024, GDP had also grown by 0.3 percent in both zones. Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 0.6 percent in the euro area and by 0.7 percent in the EU in the second quarter of 2024, after +0.5 percent in the euro area and +0.6 percent in the EU in the previous quarter, it added. Among the Member States for which data are available for the second quarter of 2024, Ireland (+1.2 percent) recorded the highest increase compared to the previous quarter, followed by Lithuania (+0.9 percent) and Spain (+0.8 percent). The highest declines were recorded in Latvia (-1.1 percent), Sweden (-0.8 percent) and Hungary (-0.2 percent). The year-on-year growth rate s were positive for eight countries and negative for three. Source: Emirates News Agency