GDP up by 0.3% and employment up by 0.3% in the euro area (2024)

Euro indicators 15 May 2024 Next release: 14 August 2024

GDP and employment flash estimates for the first quarter of 2024

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In the EU, GDP up by 0.3% and employment up by 0.2%

GDP growth in the euro area and EU

In the first quarter of 2024, seasonally adjusted GDP increased by 0.3% in both the euro area and the EU, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. In the fourth quarter of 2023, GDP had declined by 0.1% in the euro area and had remained stable in the EU.

GDP up by 0.3% and employment up by 0.3% in the euro area (1)

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 0.4% both in the euro area and in the EU in the first quarter of 2024, after +0.1% in the euro area and +0.2% in the EU in the previous quarter.

GDP up by 0.3% and employment up by 0.3% in the euro area (2)

During the first quarter of 2024, GDP in the United States increased by 0.4% compared to the previous quarter (after +0.8% in the fourth quarter of 2023). Compared with the same quarter of the previous year, GDP increased by 3.0% (after +3.1% in the previous quarter).

Employment growth in the euro area and EU

The number of employed persons increased by 0.3% in the euro area and by 0.2% in the EU in the first quarter of 2024, compared with the previous quarter. These are the same trends as observed in the fourth quarter of 2023.