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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

April 30, 2024

In the first GDP estimate for Q1 2024, Eurostat estimates the seasonally adjusted annualized growth rate for real GDP was +1.4% for the European Union and +1.3% for the Euro Area (a subset of 20 of the 27 nations of the European Union).  This was the first substantial real GDP growth after 5 quarters of little change (modest growth and modest declines). 

Among the Member States for which data are available in the first quarter of 2024, real GDP growth was fastest for Ireland, followed by Latvia, Lithuania and Hungary.  Sweden was the only reporting country with declining real GDP.

The European Union economy was 0.5% larger compared to the first quarter of 2023, and the Euro Area economy was 0.4% larger over this period. 

Source: Eurostat press releaseEurostat database

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