The European Statistics Office (Eurostat) announced on Wednesday that the Gross Domestic Product (GDP) in the Euro zone rose by 0.4 percent in the third quarter of 2024 and by 0.3 percent in the EU compared to the previous quarter. This came in a press release noting that these preliminary estimates are based on incomplete data sources and are subject to later revisions. The GDP had grown by 0.2 percent in the Euro area and by 0.3 percent in the EU in the second quarter of 2024 according to these preliminary estimates. The office reported that seasonally adjusted GDP increased by 0.9 percent in both the Euro zone and the EU in the third quarter of 2024, following growth rates of 0.6 percent increase in the Euro zone and +0.8 percent increase in the EU in the previous quarter. Among the member states for which data is available for the third quarter of 2024, Ireland recorded 2.0 percent increase as the highest increase compared to the previous quarter, followed by Lithuania 1.1 percent increase and Spain 0.8 percent increase. Meanwhile, declines were recorded in Hungary by 0.7 percent decrease, Latvia 0.4 percent decrease, and Sweden 0.1 percent decrease. The year-on-year growth rates were positive for seven countries and negative for six. Source: Kuwait News Agency
