From July to September, the eurozone and EU GDP (seasonally adjusted) increased by 0.9% year-on-year.
BRUSSELS, Oct. 30 (Xinhua) – The euro area's seasonally adjusted gross domestic product (GDP) grew by 0.4% in the third quarter of 2024, improving from 0.2% growth in the previous quarter, according to preliminary data released. did. Wednesday according to Eurostat.
The European Union's GDP grew by 0.3% in the third quarter, maintaining the same pace as the second quarter, according to data from the EU Statistics Office.
Seasonally adjusted GDP (seasonally adjusted) year-on-year growth from July to September increased by 0.9% in both the euro area and the EU, with a 0.6% increase in the euro area and 0.8% in the EU in the second quarter. It has further expanded since then.
Germany, the eurozone's largest economy, achieved 0.2% growth in the third quarter, reversing negative growth in the second quarter, Eurostat data showed. Meanwhile, growth rates in France and Spain were 0.4% and 0.8%, respectively.
While Ireland recorded the highest growth rate in the third quarter with an increase of 2%, Hungary saw a sharp decline of 0.7%. Latvia and Sweden also reported negative growth during the same period.
Bert Collaine, senior economist at ING, said the third-quarter GDP growth in the euro area was due to unstable GDP growth in Ireland, which was affected by the accounting activities of multinational companies, and a boost in France's GDP due to the Olympic Games. It pointed out that this was partially driven by temporary factors.
Collaine expressed caution about the eurozone's economic outlook, predicting a slowdown in gross domestic product growth in the fourth quarter. In his research report, he pointed out that “the euro area economy continues to be sluggish for the time being.''
