Eurozone: economy on the upswing

Eurozone: economy on the upswing

The economic situation in the euro area improved in three ways at the beginning of this year. In the largest countries in the monetary union, including Germany, France and Italy, the economy recorded faster growth in the first quarter than before. This uniform development contributed significantly to the euro area overcoming the slight recession that characterized the second half of 2023. With growth of 0.3 percent, economic output in the euro area increased more strongly than it has since the summer of 2022. Experts at Oxford Economics commented on this as the beginning of a gradual recovery.

Germany in particular played a prominent role in supporting the recovery in the euro area. The positive growth figures in Germany played a key role in putting the entire monetary union on a path to recovery. The experts are optimistic about what will happen next, as the improved economic situation in the major euro economies signals sustainable growth. Germany, as the largest economy in the euro area, will therefore continue to play an important role in promoting the recovery and have a positive impact on the overall economy of the euro area. The experts hope for a continuous recovery in the coming quarters.