Year-on-year change in GDP for the first quarter. V mounting.
First quarter, compared to the same period in 2023. in four, the economies of Lithuania, Spain and Hungary grew the fastest among the European Union (EU) for which the data are presented. Ireland, Austria and Sweden will attract the most, according to data published by Eurostat on Tuesday.
Compared to 2023 in the fourth quarter, 2024 In the first quarter, seasonally adjusted gross domestic product (GDP) in the euro area and the EU increased by 0.3%, after the previous quarter, the GDP of the euro area fell by 0.1% and the EU was unchanged (0%).
Compared to four years ago, the euro zone in 2024 the first quarter grew by 0.4% and the EU by 0.5%, when the previous quarter the euro area grew by 0.1% and the EU by 0.2%.
Member State I, which in 2024 For the first quarter data is available, compared to the previous quarter, GDP grew the most in Ireland (1.1%), followed by Latvia, Lithuania and Hungary (all grew 0.8%).
vedija was the only member state to record an increase compared to the previous four (minus 0.1%).
The annual growth rate was positive in a total of nine EU countries, and negative in four.
The State Data Agency announced on Tuesday that Lithuania’s real gross domestic product (GDP) in 2024 in the first quarter compared to the corresponding 2023 in four months, after adjusting for the season and the number of working days, it grew by 2.9%.
Compared to 2023 in the fourth quarter, the real GDP change, after adjusting for the season and the number of working days, was also positive in Lithuania and amounted to 0.8%.
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The outlook for the euro area is promising
Data published by Eurostat show that the euro zone has entered recession, and the growth of its four largest economies has been much faster than expected, although inflation has stopped falling recently.
On Tuesday, Eurostat also announced that consumer prices in April, compared to 2023. in the same month, it increased by 2.4%, which is the same as in March and corresponded to analysts’ estimates.
After economic activity slowed due to higher inflation, rising interest rates and weak global demand, the 20-nation eurozone’s prospects for a single eurozone have been bleak.
The region’s recovery is being helped by Germany, which, in addition to a similar difficulty, recently caused problems in the industrial sector. It is likely that from April the European Central Bank will begin to tighten monetary policy, according to Bloomberg’s commentary.
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