GDP stable in the euro area
Ibrahim Boran, Unsplash
According to Eurostat data released on 30 January 2025, euro area GDP was unchanged in the fourth quarter of 2024 and the EU economy grew by 0.1% quarter-on-quarter. In the third quarter, growth was 0.4 per cent in both zones, indicating a slowdown in momentum.
On an annualised basis, GDP is estimated to have increased by 0.7% in the euro area and 0.8% in the EU.
Among the EU countries, Portugal (+1.5%), Lithuania (+0.9%) and Spain (+0.8%) showed the highest quarterly growth. At the same time, Germany (-0.2%), France (-0.1%) and Ireland (-1.3%) recorded a decline.
Compared to the same period in 2023, the eurozone economy grew by 0.9 per cent and EU GDP grew by 1.1 per cent.
The economic situation remains mixed. Spain and Portugal continue to grow strongly, while Germany remains stagnant, registering negative growth for the third consecutive quarter (-0.2%). France also showed a marginal contraction of 0.1%, indicating a weakening recovery.
These preliminary data may be revised on 14 February 2025, when Eurostat will publish revised estimates. More complete data, including employment figures, will be available on 7 March and 16 April 2025.
The slowdown in growth at the end of 2024 confirms the challenging macroeconomic conditions faced by EU countries, including a slowdown in industrial production and uncertainty in the global economy.
