In Q4 last year, the euro area's seasonally-adjusted gross domestic product (GDP) grew by 0.1% and the EU's grew by 0.2%, according to Eurostat's flash estimates.
GDP growth in the euro area and EU
The euro area's seasonally adjusted GDP increased by 0.1% in the fourth quarter of 2024, while the EU's increased by 0.2%. Both were up from the previous quarter. It is based on a flash estimate released by Eurostat, the European Union's statistics office. GDP grew by 0.4% in both areas in the third quarter of 2024.
In the euro area and in the EU, GDP increased by 0.7% and 0.9%, respectively, based on seasonally and calendar-adjusted quarterly data.
Eurozone and EU seasonally adjusted GDP rose by 0.9% and 1.1% respectively in the fourth quarter of 2024, after growth of 0.9% and 1.0% in the previous quarter.
GDP in the United States increased by 0.6% in the fourth quarter of 2024 (after 0.8% growth in the third quarter). GDP increased by 2.5% over the previous quarter (after growth of 2.7% prior).
Employment growth in the euro area and EU
The number of employed persons increased by 0.1% in both the euro area and the EU in the fourth quarter of 2024. This is compared with the previous quarter. In the third quarter of 2024, employment increased by 0.2% in the euro area and remained stable in the EU.
According to an estimation of annual growth for 2024, based on quarterly data, employment increased by 0.9% in the euro area and by 0.8% in the EU.
Compared with the same quarter of the previous year, employment increased by 0.6% in the euro area and by 0.5% in the EU. This was in the fourth quarter of 2024. This was after +1.0% in the euro area and +0.7% in the EU in the third quarter of 2024.
Japan’s economy expanded in Q4 2024, exceeding forecasts
Preliminary government data showed Japan's economy expanded in the fourth quarter, beating expectations. GDP grew 2.8% annually, exceeding Reuters' 1% estimate.
Despite the positive growth, there were concerns about the recovery's sustainability.
The data showed that business investment remained weak, and labour market conditions were still not robust enough to drive significant economic expansion.
Additionally, external factors, such as trade tensions and geopolitical uncertainties, continue to weigh on the economy. The government and the Bank of Japan are expected to continue stimulating economic growth through fiscal and monetary policies.
