The Gross Domestic Product (GDP) rose 0.2% in the Eurozone area and 0.4% in the European Union (EU) in the fourth quarter of 2024 compared to the previous quarter, the European Commission's statistical office Eurostat revealed in a report on Friday.
GDP increased by 1.2% in the euro area and 1.4% in the EU compared to the same quarter of 2023. For the full year 2024 GDP figures increased by 0.9% in the euro area and 1% in the EU, indicating economic growth compared to a 0.4% increase in both the euro area and the EU in 2023.
The number of employed persons increased 0.1% in the euro area and 0.2% in the EU in the fourth quarter of 2024 compared to the prior quarter. Year-over-year employment was up 0.7% in the euro area and by 0.5% in the EU in the fourth quarter of 2024. For the entire 2024, employment grew by 1.0% in the euro area and by 0.8% in the EU.
