Euro-Zone GDP Quarterly *3M (QoQ)
Updated
EUGDPQQ (+0.3 %)Q1/2024
source: EUROSTAT
The Eurozone’s economy expanded by 0.3% in the first quarter of 2024, the fastest growth rate since the third quarter of 2022, to beat market expectations of a marginal 0.1% expansion and gain traction following muted readings since the fourth quarter of 2022.
The result added leeway for the European Central Bank to refrain from cutting rates to a larger extent this year should inflationary pressures prove to be more stubborn than previously expected.
Among the currency bloc’s largest economies, both the German and the French GDPs expanded by 0.2%, while that from Italy grew by 0.3% and that from Spain expanded by 0.7%, all above market estimates.
Compared to the same quarter of the previous year
EUGDPYY, the Eurozone’s GDP grew by 0.4%, beating market expectations of 0.2%, and gaining traction after two straight quarters of 0.1% growth.
Comment
EUGDPQQ (Q2/2024)source: EUROSTAT
Euro Area GDP Growth Rate Beats Estimates
- The Euro Area GDP expanded 0.3% on the second quarter in Q2, the same as in Q1 and above forecasts of 0.2%, preliminary estimates showed.
France, Italy and Spain grew while the German economy contracted 0.1%, as the industrial sector continues to be strained by high interest rates.
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