$EUGDPQQ -Europe's GDP (Q3/2024) ECONOMICS:EUGDPQQ 0.4%
Q3/2024
source: EUROSTAT
- The Eurozone GDP expanded 0.4% on quarter in the three months to September 2024,
the strongest growth rate in two years, following a 0.2% rise in Q2 and above forecasts of 0.2%
The German economy expanded 0.2%, surprisingly avoiding a recession, after a downwardly revised 0.3% decline in Q2.
GDP growth also quickened in France (0.4% vs 0.2% in Q2) and the Spanish economy remained robust (0.8% vs 0.8%).
In addition, the Portuguese economy grew 0.2%, the same as in Q2 while the GDP in Ireland (2% vs -1%) and Austria (0.3% vs 0%) rebounded and grew faster in Lithuania (1.1% vs 0.3%).
On the other hand, the Italian economy stalled, following a 0.2% rise in Q2 and Latvia remained in contraction (-0.4% vs -0.3%). Year-on-year, the Eurozone GDP expanded 0.9%, the best performance since the Q1 2023, compared to a 0.6% rise in the previous quarter and higher than forecasts of 0.8%.
The ECB expects the GDP in the Eurozone to expand 0.8% this year.
