emirates7 - In the second quarter of 2024, seasonally adjusted GDP rose by 0.2 percent in both the euro area and the EU, according to estimates from Eurostat, the European Union's statistical office. This follows a 0.3 percent GDP growth in both regions during the first quarter of 2024.
Year-over-year, seasonally adjusted GDP increased by 0.6 percent in the euro area and 0.8 percent in the EU in the second quarter of 2024, following growth rates of 0.5 percent in the euro area and 0.7 percent in the EU during the first quarter.
Poland saw the highest GDP growth compared to the previous quarter, with a 1.5 percent increase, followed by Greece at 1.1 percent and the Netherlands at 1.0 percent. In contrast, the largest GDP declines were recorded in Ireland (-1.0 percent), Latvia (-0.9 percent), and Austria (-0.4 percent).
Employment in the euro area grew by 0.2 percent, and by 0.1 percent in the EU during the second quarter of 2024, following 0.3 percent growth in both areas in the first quarter. Compared to the same quarter in the previous year, employment rose by 0.8 percent in both the euro area and the EU, down from 1.0 percent growth in the euro area and 0.9 percent in the EU during the first quarter of 2024.
The highest employment growth in the second quarter of 2024 was seen in Ireland and Lithuania (both +1.1 percent), followed by Estonia (+0.8 percent). The largest decreases in employment were recorded in Romania (-0.5 percent) and Finland (-0.4 percent).
Eurostat estimates that, based on seasonally adjusted data, the EU had 218.6 million employed persons in the second quarter of 2024, with 170.1 million of them in the euro area.
Year-over-year, seasonally adjusted GDP increased by 0.6 percent in the euro area and 0.8 percent in the EU in the second quarter of 2024, following growth rates of 0.5 percent in the euro area and 0.7 percent in the EU during the first quarter.
Poland saw the highest GDP growth compared to the previous quarter, with a 1.5 percent increase, followed by Greece at 1.1 percent and the Netherlands at 1.0 percent. In contrast, the largest GDP declines were recorded in Ireland (-1.0 percent), Latvia (-0.9 percent), and Austria (-0.4 percent).
Employment in the euro area grew by 0.2 percent, and by 0.1 percent in the EU during the second quarter of 2024, following 0.3 percent growth in both areas in the first quarter. Compared to the same quarter in the previous year, employment rose by 0.8 percent in both the euro area and the EU, down from 1.0 percent growth in the euro area and 0.9 percent in the EU during the first quarter of 2024.
The highest employment growth in the second quarter of 2024 was seen in Ireland and Lithuania (both +1.1 percent), followed by Estonia (+0.8 percent). The largest decreases in employment were recorded in Romania (-0.5 percent) and Finland (-0.4 percent).
Eurostat estimates that, based on seasonally adjusted data, the EU had 218.6 million employed persons in the second quarter of 2024, with 170.1 million of them in the euro area.