EU GDP growth slows to 0.2% in Q4 2024, employment rises by 0.1%

The European economy experienced modest growth in the fourth quarter of 2024, with seasonally adjusted GDP increasing by 0.1% in the euro area and 0.2% in the EU, according to a flash estimate from Eurostat. This marks a slowdown from 0.4% growth in Q3 2024 for both areas.

Annual & Year-over-Year Growth:

Full-year 2024 estimates indicate GDP growth of 0.7% in the euro area and 0.9% in the EU.

Compared to Q4 2023, GDP grew by 0.9% in the euro area and 1.1% in the EU.

Global Comparison:

In Q4 2024, the U.S. economy grew by 0.6% quarter-over-quarter, down from 0.8% in Q3.

Year-over-year, U.S. GDP increased by 2.5%, following a 2.7% rise in Q3.

Employment Trends:

Employment rose by 0.1% in both the euro area and the EU in Q4 2024.

Compared to Q4 2023, employment increased by 0.6% in the euro area and 0.5% in the EU.

Annual estimates for 2024 show 0.9% growth in euro area employment and 0.8% in the EU.

Outlook:

The European economy continues to grow at a slower pace, with employment remaining stable. Analysts will closely monitor monetary policies, inflation, and global economic conditions in the coming months.