The eurozone economy grew by 0.4% in the third quarter of 2024 compared to the previous three months, according to a report by the European Union Statistical Office (Eurostat).
This is the highest quarterly increase in two years. The consensus forecast of experts surveyed by Trading Economics also assumed that GDP growth would remain at 0.4%.
In annualized terms, the eurozone’s GDP grew by 0.9% in July-September, which also coincided with market expectations. In the second quarter, the euro area economy grew by 0.2% quarter-on-quarter and 0.5% year-on-year. In the third quarter, consumer spending in the euro area increased by 0.7% compared to the previous three months, government spending by 0.5%, and gross fixed investment by 2%. Exports decreased by 1.5%, while imports increased by 0.2%.
Germany’s GDP in the third quarter increased by 0.1% compared to the previous quarter and decreased by 0.3% in annual terms, France’s increased by 0.4% and 1.2% respectively, Italy’s remained unchanged quarter-on-quarter and increased by 0.4% in annual terms.
The EU economy in July-September grew by 0.4% compared to the second quarter and by 1% compared to the same period last year.
Earlier, the Experts Club think tank released a video analysis of the economies of Ukraine, Europe, and the world, see the video on the Experts Club YouTube channel for more details: https://www.youtube.com/watch?v=grE5wjPaItI
http://relocation.com.ua/ekonomika-ievrozony-v-tretomu-kvartali-2024-roku-zrosla-na-0-4/
