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March 07, 2025EU AND EURO AREA GDP, Q4 2024 (REVISED) 
In the second GDP estimate for Q4 2024, the seasonally adjusted annualized growth rate for real GDP was +1.4% for the European Union and +0.9% for the Euro Area (a subset of 20 of the 27 nations of the European Union). Real GDP growth for the EU and Euro Area accelerated in 2024.
Among member states reporting results for Q4, growth was fastest in Ireland and Denmark. There were declines reported in Malta, Austria, Germany, Finland and France.
Growth for the European Union was attributable to rising rising household spending (+2.2%), government spending(+1.3%), exports (+0.3%) and investment (+1.9%) along with falling imports (-0.3%). These gains were partially offset by declining inventories.
In the Euro Area, real GDP growth was driven by rising household spending (+1.7%), governement spending (+1.8%) and investment (+2.6%) along with falling imports (-0.3%). Euro Area exports were lower (-0.3%) while inventories were drawn down, offsetting some of the real GDP gains.
Source: Eurostat database
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