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    Home»World Economy

    Eurozone economy unexpectedly stagnates in fourth quarter

    Team_NewsStudyBy Team_NewsStudyJanuary 30, 2025 World Economy No Comments2 Mins Read
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    Merely signal as much as the Eurozone economic system myFT Digest — delivered on to your inbox.

    The Eurozone economic system unexpectedly stagnated within the fourth quarter, ratcheting up the stress on the European Central Financial institution to chop rates of interest extra aggressively.

    The shortage of development within the quarter in contrast with the 0.1 per cent enlargement forecast by economists polled by Reuters and 0.4 per cent development within the third quarter.

    For 2024, the Eurozone economy expanded 0.7 per cent, based on information launched by Eurostat on Thursday.

    The figures come simply hours earlier than the ECB is predicted to chop its benchmark rate of interest by a quarter-point to 2.75 per cent, the bottom degree since early 2023.

    “The area’s financial prospects are worse than most suppose,” stated Jack Allen-Reynolds at Capital Economics. “We anticipate this to immediate the ECB to chop rates of interest by extra this 12 months than is discounted out there.”

    The stagnation additionally underlines the problem going through the area as Germany, the Eurozone’s largest economic system, struggles with a extreme manufacturing downturn.

    German GDP contracted by 0.2 per cent within the remaining three months of 2024 whereas France’s economic system unexpectedly shrank by 0.1 per cent. Output was flat in Italy.

    Following the information, merchants elevated bets that the ECB will lower charges 4 occasions this 12 months, based on the swaps market.

    The euro, which has weakened in current months as the trail of US and European rates of interest diverge, was little modified at $1.041.

    The deteriorating image within the Eurozone contrasts with the US, which the IMF predicts will develop by 2.7 per cent this 12 months, near its tempo in 2024. The US Federal Reserve left rates of interest unchanged on Wednesday.



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