Euro area 3rd quarter GDP growth meets forecast

By Tuba Ongun

Gross domestic product (GDP) in the eurozone rose 0.4% in the third quarter of 2024 from the previous period, as preliminarily expected, according to a second reading released on Thursday.

Growth accelerated from 0.2% in the second quarter of this year and marked the strongest rate in two years, Eurostat data showed.

On an annual basis, the eurozone economy grew 0.9% in July-September, the largest leap since 2023, and up from 0.6% in April-June.

The European Central Bank expects GDP in the eurozone to increase 0.8% this year.

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.