Eurozone exits recession as ‘big four’ economies beat forecasts

The eurozone has bounced back from its shallow technical recession after a stronger than expected performance by its “big four” economies in the first three months of 2024.

Europe’s two biggest economies – Germany and France – grew by 0.2%, while Italy and Spain posted growth of 0.3% and 0.7% respectively. Germany’s performance in the final three months of 2023 was worse thanOf the smaller eurozone economies, the best performing were Ireland, which grew by 1.1% in the first three months of 2024, and Latvia, Lithuania and Hungary, which expanded by 0.8%.

Although the eurozone’s growth performance in the first quarter was stronger than the European Central Bank had been forecasting, analysts said lower inflation paved the way for interest rate cuts in the months ahead.and Business Research, said: “This morning’s confirmation of quarterly growth in the first quarter has put an end to a short-lived recession in the eurozone, with the economy having turned a corner since the beginning of 2024.

Andrew Kenningham, the chief Europe economist at Capital Economics, said: “While the eurozone’s mild recession appears to be over, we think the economy will expand at only a moderate pace over the rest of the year.

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘Big Short’ here’s Steve Eismans new big idea is one Aussie investors can rideFamed US investor Steve Eisman says that when things are good, markets trade on stories. But there’s one theme that stands out from the rest.
Source: FinancialReview - 🏆 2. / 90 Read more »

Pedro Sánchez to continue as Spain’s PM despite ‘bullying’ campaignSánchez calls for end to ‘mud-slinging’ after spending five days reflecting on his future over ‘harassment’ by enemies
Source: GuardianAus - 🏆 1. / 98 Read more »

‘Massive and exciting impact’: show celebrates Spain’s first abstract art museumExhibition explores how a Spanish-Filipino artist in 1966 opened a trailblazing cultural outpost in Cuenca’s ‘hanging houses’
Source: GuardianAus - 🏆 1. / 98 Read more »

Rookie’s reality check, Miller’s moving target: MotoGP Spain Insider’s GuideMotoGP: Spaniard Maverick Vinales has taken out the Americas GP in what was a crash-ridden race in Texas.
Source: FOXSportsAUS - 🏆 24. / 51 Read more »

Why is Spain’s prime minister considering resigning from office?Pedro Sánchez accuses opponents of ‘bullying operation’ conducted against him and his wife, Begoña Gómez
Source: GuardianAus - 🏆 1. / 98 Read more »

Ministers of Germany, Brazil, South Africa and Spain: why we need a global tax on billionairesFinance chiefs say higher taxes for the super-rich are key to battling global inequality and climate crisis
Source: GuardianAus - 🏆 1. / 98 Read more »