In the second quarter of 2024, both the euro area and the European Union experienced a modest economic upturn, with seasonally adjusted GDP increasing by 0.3% in each region compared to the previous quarter, according to Eurostat. This follows a similar growth rate of 0.3% in the first quarter of 2024. Year-over-year, GDP rose by 0.6% in the euro area and by 0.8% in the EU, up from 0.5% and 0.6%, respectively, in the prior quarter.
Employment also saw a slight increase, with the number of employed persons rising by 0.2% in both the euro area and the EU during the second quarter of 2024. This marks a decrease from the 0.3% growth observed in the first quarter. Compared to the same period last year, employment grew by 0.8% in the euro area and 0.7% in the EU.
As EU countries implement a benchmark revision of national accounts estimates in 2024, including new data sources and methodological improvements, the impact on economic aggregates is expected to be noticeable but limited.
By commenting you are accepting our Comment Policy.