The euro zone economy recorded an expansion of 0.4% in the third quarter of the year, double the pace observed in the previous three months, while compared to the same period in 2023, annual growth was 0. 9%, according to the second reading of the data published by Eurostat.
In the European Union as a whole, GDP growth between July and September remained stable at 0.3%, while, compared to the same quarter of the previous year, seasonally adjusted GDP increased by 1%.
Among Member States for which data was available for the third quarter of 2024, Ireland (2%) recorded the largest increase compared to the previous quarter, followed by Lithuania (1.1%) and Cyprus (1%). On the other hand, decreases were recorded in Hungary (-0.7%), Latvia (-0.4%), Poland (-0.2%) and Sweden (-0.1%).
Among the largest economies in the eurozone, Germany recorded an expansion of 0.2% in the third quarter, after the contraction of 0.3% in the previous three monthswhile in France the GDP grew by 0.4%, double that of the second quarter, and in Italy the economy stagnated in the quarter, after expanding by 0.2% in the previous three months.
In this way, among the main economies in the region, Spain was once again the one that showed the best performance in the quarter, with an expansion of 0.8%, double the average for the euro zone and half a percentage point above the EU average, maintaining the quarterly expansion rate observed in the previous three months.
On the other hand, Eurostat points out that, in the third quarter of 2024, the US GDP increased by 0.7% compared to the previous quarter, the same growth as in the second quarter. Compared to the same quarter in 2023, US GDP increased by 2.7%.
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