The Eurozone economy grew by 0.1% in the final quarter of 2024, slightly improving from the initial estimate of no growth but still marking the weakest performance of the year, according to Eurostat’s second estimate, which includes more comprehensive data.
Euro area GDP growth revised higher in Q4
The bloc’s two largest economies contracted, with Germany’s GDP shrinking by 0.2% and France’s by 0.1%, while Italy remained stagnant for the second consecutive quarter. In contrast, Spain (0.8%) and Portugal (1.5%) recorded solid growth, along with positive performances in the Netherlands (0.4%), Belgium (0.2%), Slovenia (0.6%), Slovakia (0.5%), and Estonia (0.1%). On the downside, Ireland’s GDP declined by 1.3%, Austria’s economy remained flat, and slower growth was seen in Finland (0.1%), Cyprus (0.3%), and Lithuania (0.9%).
Annual figures
Year-on-year, Eurozone GDP grew 0.9%, matching Q3 and aligning with the initial estimate. For the full year, the economy expanded by 0.7%, improving from 0.4% in 2023.
