Eurozone's GDP Sees Minimal Growth

The Eurozone's gross domestic product (GDP) experienced a slight increase of 0.1% in the fourth quarter of 2024, according to the second estimate released by Eurostat, the European Union's statistical office. This marks a minor upward revision from the initial report, indicating a fragile economic recovery.

Comparative Economic Performance

On an annual basis, the euro area's GDP grew by 0.9%, while the European Union's economy saw a 1.1% increase. Throughout 2024, the Eurozone's economy expanded by 0.7%, and the EU's by 0.9%. Notably, Poland recorded the highest annual growth of 3.7%, and Portugal led the quarterly growth with a 1.5% increase.

Unemployment Trends

Unemployment rates in both the Eurozone and the EU saw a 0.1% increase from the previous quarter. Annually, unemployment grew by 0.6% in the euro area and 0.5% in the EU, highlighting ongoing challenges in the labor market.