Eurozone economy fared a touch better than first estimated in Q4, data shows
THE eurozone economy grew a touch faster than initially thought in the last quarter of 2024 but employment barely grew, offering further evidence that the economy of the 20 countries sharing the euro is broadly stagnant.
Eurozone GDP grew by 0.1 per cent in the fourth quarter, Eurostat said on Friday (Feb 14), raising its previous estimate which had shown stagnation.
Compared with a year earlier, the economy expanded by 0.9 per cent, the same as in the previous quarter but a modest expansion from earlier quarters.
Employment grew by just 0.1 per cent on the quarter, with the expansion remaining on a downward trend since early 2022.
Economic growth is now seen picking up slightly, to just above 1 per cent in 2025, but that projection is subject to downside risks.
Consumption is barely growing, the labour market is softening, industry remains in recession, and the threat of tariffs from the US is weighing on investment.
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Energy prices are also sharply higher because of surging natural gas costs, suggesting that the bloc’s economy will remain stagnant for some time to come, economists say. REUTERS
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