GDP up 0.4% QoQ in euro area, 0.3% QoQ in EU in Q3 2024: Eurostat

In Q2 2024, GDP had grown by 0.2 per cent QoQ in the euro area and by 0.3 per cent QoQ in the EU.

Seasonally-adjusted GDP increased by 0.9 per cent year on year (YoY) both in the euro area and in the EU in Q3 2024, after a 0.6-per cent YoY rise in the euro area and a 0.8-per cent increase in the EU in Q2.

Ireland (plus 2 per cent) recorded the highest increase compared to the previous quarter, followed by Lithuania (plus 1.1 per cent) and Spain (plus 0.8 per cent).

Declines were recorded in Hungary (minus 0.7 per cent), Latvia (minus 0.4 per cent) and Sweden (minus 0.1 per cent). The YoY growth rates were positive for seven countries and negative for six.

Euro area annual inflation is expected to be 2 per cent in October this year, up from 1.7 per cent in September, according to the flash estimate.

Fibre2Fashion News Desk (DS)