The eurozone economy is gradually recovering from the blow of the pandemic and the consequences of the war in Ukraine. For the moment, it seems that the GDP of the Twenty is accelerating in the latter part of the year and is closing the third quarter with some acceleration. Eurozone countries recorded gross domestic product (GDP) growth of 0.4% in the third quarter of the yearabove 0.2% in the second quarter.
According to updated data made public this Thursday by the European Statistics Office, Eurostat, a similar dynamic is being reproduced at the level of the Twenty-Seven. In the case of the EU as a whole, the economy has grown 0.3% between July and September, slightly above the figure between April and June, by 0.2%.
Among the main economies of the euro zone, Spain is the one with the strongest growthwith an increase of 0.8% between July and September. A figure similar to that recorded during the second part of the year and in line with the 0.9% GDP expansion seen at the start of the year.
The German economy, on the other hand, has recorded a rebound of 0.2% in the third half of the year, which would allow it to reverse the 0.3% contraction observed in the second quarter of the year. Berlin started 2024 with GDP growth of 0.2% after seeing its economy decline by 0.4% at the end of last year.
In the case of GDP French, the rebound between July and September was 0.4%. This figure is higher than the 0.2% recorded between April and June but also between January and March, the French economy therefore seems to be starting to show signs of dynamism. The case of Italy has not been so positive. It recorded stable growth in the third quarter, after increasing by 0.2% during the second part of the year and by 0.3% at the start of the year.
At the Community level, Ireland is positioned as the fastest growing economy, with GDP growth of 2% in the third quarter, which contrasts with the 1% drop between April and June. The Irish economy started 2024 growing at 0.6%.
Next comes the Lithuanian economy, which grew by 1.1% in the third quarter, in line with data from the first three months of the year and above 0.3% between April and June. In third place is Cyprus, whose GDP increased by 1.1% between July and September.
