In the second quarter of 2024, seasonally adjusted GDP increased by 0.6% in the euro area and by 0.7% in the EU when compared with the same quarter of the previous year, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union.

Seasonally adjusted GDP increased by 0.3% in both the euro area and the EU, compared with the previous quarter.

These preliminary GDP flash estimates are based on data sources that are incomplete and subject to further revisions, Eurostat added.

Among the member states for which data are available for the second quarter of 2024, Ireland (1.2%) recorded the highest increase compared to the previous quarter, followed by Lithuania (0.9%) and Spain (0.8%). The highest declines were recorded in Latvia (-1.1%), Sweden (-0.8%) and Hungary (-0.2%).

The year-on-year growth rates were positive for eight countries and negative for three. Spain saw the highest year-on-year growth at 2.9%.