In the first quarter of 2024, seasonally adjusted GDP increased by 0.3% in both countries. euro area And that european unionAccording to preliminary estimates released by Eurostat, Statistical Office of the European Union. GDP decreased by 0.1% in the fourth quarter of 2023. euro area and remained stable european union.
Seasonally adjusted GDP increased by 0.4% compared to the same period last year. euro area and in that european union Q1 2024 after +0.1% euro area and +0.2% european union in the previous quarter.
GDP for the first quarter of 2024 America Increased by 0.4% compared to the previous quarter (+0.8% in Q4 2023). Compared to the same period last year, GDP increased by 3.0% (+3.1% in the previous quarter).
The number of employed persons increased by 0.3%. euro area and an increase of 0.2% european union Comparison of the first quarter of 2024 with the previous quarter. These are the same trends observed in the fourth quarter of 2023.
Compared to the same period last year, employment increased by 1.0%. euro area and, european union After +1.2% in the first quarter of 2024; euro area +1.0% european union In the fourth quarter of 2023.
These data provide a complete picture of labor input that is consistent with national accounts output and income indicators.
Note to users
revision
The reliability of preliminary GDP and employment figures is tested by specialized working groups, and subsequent revisions to estimates are continuously monitored. Please visit the Eurostat website for more information.
These preliminary estimates do not restate figures for euro area and EU employment and GDP for the previous quarter.
The preliminary GDP figures for the first quarter of 2024 are based on data from Member States covering 99% of GDP in the EA and the EU, and the preliminary employment figures are based on data from Member States covering 96% in the EA and 93% in the EU. It is based on. Total employment.
Preliminary GDP growth figures were published in a news release issued on April 30, 2024. It is based on GDP estimates for the 18 member countries.
Last quarter's EA and EU forecasts have been revised as shown in the table below.
|
To the previous quarter (Q/Q-1) |
To previous year (Q/Q-4) |
||
|
previous |
the current |
previous |
the current |
|
0.3 |
0.3 |
0.4 |
0.4 |
|
0.3 |
0.3 |
0.5 |
0.4 |
All figures in this release have been revised based on Eurostat's periodic estimates of GDP and key aggregates (including employment) scheduled for 7 June 2024 and 19 July 2024. There is a possibility that
Release schedule
Comprehensive estimates for Europe's key aggregates (including GDP and employment) are based on regular national releases and are published approximately 65 and 110 days after the end of each quarter. To increase the timeliness of key indicators, Eurostat also publishes preliminary figures for GDP (after approximately 30 and 45 days) and employment (after approximately 45 days). The compilation is based on estimates provided voluntarily by EU member states.
This news release provides preliminary figures for Eurozone and EU GDP and employment growth approximately 45 days in advance.
Method and definition
The European Quarterly National Accounts are compiled according to the European System of Accounts 2010 (ESA 2010). These include key policy indicators on GDP and employment.
gross domestic product (GDP) Market prices measure the productive activity of resident production units. Growth rates are based on chain-linked volumes.
employment It is aimed at employees working in permanent production units (domestic concept) and self-employed persons. While the preliminary estimates of employment are limited to total employment on a per person basis, the periodic estimates also include hours worked and a breakdown by industry.
The methodology used to compile the European GDP and employment estimates is the same as in previous releases.
geographic information
euro area (EA20): Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Austria, Portugal, Slovenia, Slovakia, Finland.
european union (EU27): Belgium, Bulgaria, Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden.
