In the second quarter, GDP grew by 0.3 percent in the euro area and in the EU on a quarterly basis

By: Trademagazin Date: 2024. 08. 14. 12:16

In the second quarter of this year, with a seasonal adjustment, the gross domestic product (GDP) increased by 0.3 percent compared to the first quarter in both the euro area and the European Union, the EU’s statistical office, Eurostat, announced on Wednesday as non-final data.

The data presented on Wednesday corresponded to the first estimate presented by Eurostat at the end of July. In the first quarter, GDP growth was also 0.3 percent in both regions on a quarterly basis.

Year-on-year, GDP grew by 0.6 percent in the second quarter in the euro area and by 0.8 percent in the European Union. The growth rate improved by 0.1 percentage points in the euro area and by 0.2 percentage points in the European Union: in the first quarter, annual growth in the euro area was 0.5 percent, and in the EU 0.6 percent.

Also on Wednesday, Eurostat announced that the number of employed persons increased by 0.2 percent in the euro area and in the EU in the second quarter compared to the first quarter, when employment in both regions increased by 0.3 percent.