The Eurozone GDP has expanded by 0.9% compared to 2023’s fourth quarter while the entire European Union (EU) experienced a 1.1% growth rate.
The economic growth rate of Portugal has surprised many as it reached 1.9% in 2024 because its fourth quarter performance was strong.
While some Eurozone countries experienced stagnation or slight growth during this period the rest of the major economies in the region remained stagnant. Germany and France encountered economic obstacles which prevented them from achieving growth.
Multiple factors including industrial production decline and external trade uncertainties caused economic stagnation throughout the Eurozone during the fourth quarter. Portugal’s economy proved robust during this time by achieving the highest regional growth despite facing multiple difficulties.
