In the fourth quarter of 2024, seasonally adapted GDP remained stable in the euro area and increased by 0.1% in the EU compared to the previous quarter, according to a preliminary estimate released today by Eurostat.

In the third quarter of 2024, GDP had increased by 0.4% in the eurozone and the EU.

Overall, the eurozone’s gross domestic product (GDP) increased by only 0.7% compared to 2023 and in the EU by 0.8%.

Compared to the fourth quarter of the previous year, seasonally adapted GDP increased by 0.9% in the euro zone and 1.1% in the EU in the fourth quarter of 2024.

Among the Member States for which data available for the fourth quarter of 2024, Portugal (+1.5%) recorded the highest growth compared to the previous quarter, followed by Lithuania (+0.9%) and Spain (+0.8%). Recession was recorded in Ireland (-1.2%), as well as in the two largest eurozone economies: Germany (-0.2%) and France (-0.1%).

In Italy and Austria, growth was zero in the fourth quarter of 2024 compared to the previous quarter.

Eurostat notes that preliminary GDP estimates are based on sources of data that are incomplete and subject to further revisions.