FRANKFURT, Germany (AP) – Europe´s economy stagnated at the end of last year as its former growth engine, Germany, finished a second straight year of shrinking output, officials said Thursday.
Gross domestic product was flat with a zero increase in the final quarter of 2024 in the 20-nation eurozone, the EU statistics agency Eurostat said.
The economy slowed from 0.4% growth in the third quarter as businesses were unsettled by possible trade disruptions under the new administration of U.S. President Donald Trump. Consumers remained cautious about spending after being stung by inflation, even though inflation has come down from its peak of 10.6% in October 2022.
Germany is laboring under multiple headwinds including the loss of cheap energy from Russia, choking bureaucracy and political paralysis in Berlin. Its economy contracted 0.2% in the fourth quarter.
The German Economy is Struggling And Border Control Rhetoric is to Blame, Claims Globalism Institute https://t.co/FgE5RA7ZF2
— Breitbart London (@BreitbartLondon) September 6, 2024
The German economy, Europe’s largest, also contracted 0.2% for all of 2024, the second straight year of declining output. […]
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