Overview

• The update trims 2023 growth to 2.5% and finalizes 2022 at 6.4%, reshaping the recent growth profile.
• Investment in 2024 is revised to 4.7% from 1.9% on larger inventory gains, while private consumption rises to 3.1% from 2.9% and public consumption is put at 2.9% instead of 4.1%.
• Domestic demand is now seen contributing 3.3 percentage points to 2024 growth, with the external sector contributing 0.2 points.
• By sector, construction, agriculture, trade-hospitality-transport, and arts-recreation see upgrades, whereas industry is revised down to 1.9% from 2.7%.
• Nominal GDP for 2024 is estimated at €1,594,330 million, about €2.7 billion higher than before, with GDP per capita at €32,633 and net national disposable income per capita at €27,278.