2024-09-07 14:25:30
In the second quarter of 2024, seasonally adjusted gross domestic product (GDP) increased by 0.2 percent in both the euro area and the EU compared to the first quarter, Eurostat data showed.
This is the third estimate in a row, as Eurostat reported in August that GDP growth in the EU and the Eurozone increased by 0.3 percent. Essentially, the new data revised down growth in the second quarter by 0.1 percentage point from the first. Then the economy of the EU and the Eurozone grew by 0.3 percent on a quarterly basis, writes BTA.
Poland (1.5 percent) recorded the largest quarter-on-quarter GDP growth, followed by Greece (1.1 percent) and the Netherlands (1.0 percent). The biggest declines were seen in Ireland (1.0 per cent), Latvia (0.9 per cent) and Austria (0.4 per cent).
The economy of Bulgaria ranks tenth in terms of the fastest growth rate in the EU, with the increase compared to the first quarter by 0.5 percent, according to Eurostat data.
Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 0.6 percent in the euro area and by 0.8 percent in the EU in the second quarter of 2024, with the data confirming the August estimate.
In the first quarter, on an annual basis, the GDP of the EU and the euro area grew by 0.7 and 0.5 percent, respectively. On an annual basis in the second quarter, GDP grew the most in Malta (4.2 per cent), Poland (4.0 per cent) and Cyprus (3.7 per cent), and fell the most in Ireland (4, 1 per cent), Estonia (1.3 per cent) and Finland (1.2 per cent).
Bulgaria’s economy grew by 2.1 percent in the second quarter on an annual basis, sharing with Slovakia the eighth place in terms of growth rate on an annual basis.
Employment increased by 0.2 percent in the euro area and by 0.1 percent in the EU in the second quarter of 2024 compared to the previous quarter. In the first quarter of 2024, employment rose by 0.3 percent in both zones.
Compared to the same quarter of the previous year, employment increased by 0.8 percent in both the euro area and the EU, following year-on-year growth of 1.0 percent in the euro area and 0.9 percent in the EU in the first quarter of 2024