2024-05-15 05:42:56 Eastern Standard Time
The euro zone's gross domestic product (GDP) increased by 0.3% in the first quarter of 2024 compared to the previous three months, according to the second preliminary estimates report published by the European Commission's Eurostat on Wednesday.
This number is consistent with initial flush estimates. In the European Union as a whole, GDP increased by 0.3% over the same period.
Eurozone GDP shows economic expansion
On a year-on-year basis, both the euro area and the EU recorded GDP growth of 0.4%.
This steady growth reflects slow but consistent economic expansion across the region over the past year.
What do the employment numbers show?
Employment increased in the first quarter of 2024 as well. In the euro area, the number of employed persons increased by 0.3% compared to the fourth quarter of 2023.
In the EU, employment increased by 0.2% over the same period. Employment statistics increased by 1% in the euro area and 0.7% in the EU each year, reflecting positive trends in job creation across the region.
Eurozone economic outlook
Consistent growth in both GDP and employment underlines the resilience of the euro area and EU economies amid various global challenges.
This data highlights continued recovery efforts and a stable economic environment, fostering optimism for continued growth in the coming quarters.
Post-Eurozone GDP growth in Q1 2024 is 0.3% The post appeared first on Invezz
