The eurozone has put in its best growth performance since the third quarter of 2022, with 0.3% growth in the first three months of 2024, exceeding market expectations of 0.2% growth.
Factors contributing to the growth include lower energy prices, falling inflation, rising real wages, and the possibility of interest rate cuts, following a lackluster 2023.
Germany and France grew by 0.2%, Italy and Spain by 0.3% and 0.7% respectively, with other smaller economies like Ireland, Latvia, Lithuania, and Hungary also showing positive growth.
Although the European Central Bank had underestimated the growth, lower inflation figures suggest a potential for future interest rate cuts, fueling economic prospects in the eurozone.
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