Eurozone GDP rose 0.1 per cent in the fourth quarter of 2024 compared with the previous three months, the European Union’s statistical office said in a revised data report.
GDP was previously reported to be unchanged. Experts on average expected a confirmation of the preliminary estimate, according to Trading Economics.
In annual terms, the eurozone economy grew by 0.9% – the maximum rate since the beginning of 2023. The dynamics of this indicator coincided with the preliminary estimate and consensus forecast of analysts.
In the third quarter, the GDP of the eurozone increased by 0.4% relative to the previous three months and by 0.9% in annual terms.
Germany’s economy contracted by 0.2% quarter-on-quarter in October-December, France’s economy contracted by 0.1%, Spain’s economy grew by 0.8%, and Italy’s GDP was unchanged. On an annualised basis, Germany’s GDP also fell 0.2%, France’s rose 0.7%, Spain’s rose 3.5% and Italy’s rose 0.5%.
The EU economy grew by 0.2% in the fourth quarter compared to the previous three months and by 1.1% in annual terms. This is the second estimate of GDP dynamics for the fourth quarter out of three. The third estimate will be released on March 7.
According to preliminary data, in 2024, the eurozone’s GDP will grow by 0.7 per cent and the EU’s by 0.9 per cent.
