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Famagusta Gazette

News From Cyprus

European economy still behind the US and China

ByFamagusta Gazette

Jan 30, 2025

Economic growth in the eurozone was unchanged in the last three months of 2024, official figures from Eurostat showed on Thursday.

This is a worse result than expected. Growth in the eurozone was previously expected to be 0.1 percent after growth in the third quarter was 0.3 percent.

The two major economies, Germany and France, contributed to the growth slowdown by themselves falling by 0.2 and 0.1 percent, respectively.

Annual growth in 2024 ended at 0.7 percent in the 20 countries that use the euro as their currency, up from 0.4 percent the previous year.

Economic growth is significantly lower in Europe than in China and the United States. The Chinese economy grew by 5 percent last year, and in the United States, growth is expected to be 2.8 percent.

Famagusta Gazette