BRUSSELS: In the first quarter of 2024, seasonally adjusted GDP increased by 0.3% in both the euro area and the EU, compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the European Union. In the fourth quarter of 2023, GDP had declined by 0.1% in the euro area and had remained stable in the EU.

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 0.4% in the euro area and by 0.5% in the EU in the first quarter of 2024, after +0.2% in the euro area and +0.3% in the EU in the previous quarter

Malta (+1.3%) recorded the highest increase of GDP compared to the previous quarter, followed by Cyprus (+1.2%) and Croatia (+1.0%). Decreases were observed in Denmark (-1.8%), Estonia (-0.5%) and the Netherlands (-0.1%).

The number of employed persons increased by 0.3% in both the euro area and the EU in the first quarter of 2024, compared with the previous quarter, after +0.3% in the euro area and +0.2% in the EU in the four
th quarter of 2023.

Compared with the same quarter of the previous year, employment increased by 1.0% in the euro area and by 0.9% in the EU in the first quarter of 2024, after +1.2% in the euro area and +1.0% in the EU in the fourth quarter of 2023.

In the first quarter of 2024, Romania (+2.4%), Malta (+1.4%) and Portugal (+1.1%) recorded the highest growth of employment in persons compared with the previous quarter. Decline of employment was recorded in Poland (-0.6%), Slovakia(-0.3%) and Sweden (-0.1%).

Based on seasonally adjusted figures, Eurostat estimates that in the first quarter of 2024, 218.0 million people were employed in the EU, of which 169.9 million were in the euro area.

Source: Emirates News Agency