Eurozone's Economic Stagnation

The Eurozone's gross domestic product (GDP) remained unchanged in the fourth quarter of 2024, as reported by Eurostat, the European Union's statistical office, in its initial flash estimate released on Thursday.

EU's Slight Growth

In contrast, the entire European Union saw a marginal increase of 0.1% in GDP for the same period, on a quarter-on-quarter basis. Year-over-year, the euro area's GDP growth was recorded at 0.9%, while the EU experienced a slightly higher growth rate of 1.1%.

Annual Overview

Looking at the entire year of 2024, the euro area's economy expanded by 0.7%, with the EU's economy growing by 0.8%.

Country-wise Performance

Among the member states, Italy led with a significant quarter-on-quarter economic increase of 1.5%. On the other hand, Ireland faced the steepest decline, with its GDP falling by 1.3%.