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 a flash 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% both in the euro area and in the EU in the first quarter of 2024, after +0.1% in the euro area and +0.2% in the EU in the previous quarter.

During the first quarter of 2024, GDP in the United States increased by 0.4% compared to the previous quarter (after +0.8% in the fourth quarter of 2023). Compared with the same quarter of the previous year, GDP increased by 3.0% (after +3.1% in the previous quarter)

The number of employed persons increased by 0.3% in the euro area and by 0.2% in the EU in the first quarter of 2024, compared with the previous quarter. These
are the same trends as observed in the fourth quarter of 202.

Compared with the same quarter of the previous year, employment increased by 1.0% in the euro area and by 0.7% 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.

Source: Emirates News Agency