Euro area 2nd quarter GDP growth confirmed at 0.3%

By Tuba Ongun

Gross domestic product (GDP) in both the eurozone and the EU rose 0.3% in the second quarter of 2024 compared to the previous period, as preliminarily expected, according to a second reading released on Wednesday.

In the first quarter of this year, GDP also grew 0.3% in both zones, Eurostat data showed.

On a yearly basis, GDP increased 0.6% in the euro area and 0.8% in the EU in April-June, following 0.5% and 0.6%, respectively in January-March.

Eurostat also said the number of employed persons climbed 0.2% in both the euro area and the EU in the three months to June, compared to the previous quarter.

The eurozone/euro area or EA19 represents member states that use the single currency – the euro – while the EU27 includes all member countries of the bloc.