GDP up by 0.3% and employment up by 0.2% in the euro area (2024)

Table of Contents
Announcement GDP growth in the euro area and EU Employment growth in the euro area and EU Tables Notes for users Revisions Release schedule Methods and definitions Geographical information For more information Get in touch References

Euro indicators 14 August 2024 Next release: 14 November 2024

GDP and employment flash estimates for the second quarter of 2024

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In the EU, GDP up by 0.3% and employment up by 0.2%

Announcement

Following recommendations for a harmonised European revision policy for national accounts and balance of payments, EU countries are carrying out a benchmark revision of their national accounts estimates in 2024. The purpose of this benchmark revision is to implement changes introduced by the amended ESA 2010 regulation, and to incorporate new data sources and other methodological improvements. Most of the revised quarterly and annual country data are expected to be released by Eurostat between June and October 2024, and will be progressively integrated in European estimates. The impact of these revisions is expected to be limited, but still noticeable for some European aggregates and more pronounced for certain Member States. For further details, please consult the available documentation on Eurostat’s website.

GDP growth in the euro area and EU

In the second quarter of 2024, seasonally adjusted GDP increased by 0.3% in both the euro area and the EU, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. In the first quarter of 2024, GDP had also grown by 0.3% in both zones.

GDP up by 0.3% and employment up by 0.2% in the euro area (1)

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 0.6% in the euro area and by 0.8% in the EU in the second quarter of 2024, after +0.5% in the euro area and +0.6% in the EU in the previous quarter.

GDP up by 0.3% and employment up by 0.2% in the euro area (2)

During the second quarter of 2024, GDP in the United States increased by 0.7% compared to the previous quarter (after +0.4% in the first quarter of 2024). Compared with the same quarter of the previous year, GDP increased by 3.1% (after +2.9% in the previous quarter).

Employment growth in the euro area and EU

The number of employed persons increased by 0.2% in both the euro area and the EU in the second quarter of 2024, compared with the previous quarter. In the first quarter of 2024, employment had grown by 0.3% in both zones.