Eurozone's GDP Growth in Q4 2024

The Eurozone's gross domestic product (GDP) experienced a slight increase of 0.1% in the fourth quarter of 2024, according to the second estimate released by Eurostat, the European Union's statistical office, on Friday. This figure marks a slight upward revision from the previous report.

Year-on-Year Growth and EU's Economic Expansion

On a year-on-year basis, the GDP of the euro area grew by 0.9%, while the European Union saw a 1.1% increase. Throughout 2024, the Eurozone's economy expanded by 0.7%, and the EU's by 0.9%.

Leading Performers in the Eurozone

Among the member states, Poland recorded the highest annual growth at 3.7%, with Portugal leading the quarterly growth at 1.5%.

Unemployment Rates

Unemployment rates in both the Eurozone and the EU saw a slight increase of 0.1% compared to the previous quarter. Annually, unemployment rose by 0.6% in the euro area and 0.5% in the EU.