Europe's economy stagnates during 2024 end as Germany's struggles persist

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Europe's economy stagnates during 2024 end as Germany's struggles persist - Business Standard

Quick Summary:

Europe's economy stagnated at the end of last year as former growth engine Germany floundered to the end of a second straight year of shrinking output, officials said Thursday.

Germany, labouring under multiple headwinds including the loss of cheap energy from Russia, choking bureaucracy and political paralysis in Berlin, shrank by 0.2% in the fourth quarter.

The German economy, Europe's largest, also shrank for all of 2024 by 0.2%, the second straight year of declining output.