The Strategist

Eurozone GDP growth estimate for Q1 confirmed at 0.3%

06/10/2024 - 03:28

The GDP of the eurozone increased by 0.3% in the first quarter of 2024 over the preceding three months, writes the European Union's statistical agency (Eurostat) in its report.
The economy of the eurozone expanded by 0.4% annually.

Both indicators' behaviors matched the initial data and the predictions of specialists surveyed by Trading Economics.

The eurozone GDP's quarterly dynamics were at their highest point since the third quarter of 2022. In contrast, the annual GDP expanded by 0.2% and decreased by 0.1% quarterly in the fourth quarter of 2023.

Total capital investment decreased 1.5%, government spending remained constant, while consumer spending increased by 0.2% from January to March. While imports fell by 0.3%, exports rose by 1.4%.

The European Union's GDP grew by 0.3% in the first quarter of this year compared to the same period last year and by 0.5% from January to March of last year.


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