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The German economy, Europe's largest, also contracted 0.2% for all of 2024, the second straight year of declining output. And the outlook for this year isn't much better.
Europe's economy has left stagnation behind but is headed for only modest growth in coming months as consumers regain some of the purchasing power they lost to inflation, the European Union's ...
The euro area economy is growing again, but may struggle to maintain the momentum for the rest of the year. Gross domestic product across the 20 countries that share the euro currency rose by 0.3% ...
The economy of Europe comprises about 748 million people in 50 countries. Throughout this article "Europe" and derivatives of the word are taken to include selected states whose territory is only partly in Europe, such as Turkey, Azerbaijan and Georgia, and states that are geographically in Asia, bordering Europe and culturally adherent to the continent, such as Armenia and Cyprus.
Europe is suffering from an innovation deficit and weak productivity, putting the region’s economy on a path to stagnation unless it changes course, according to Nobel laureate Michael Spence.
Moldova is the fastest growing economy in Europe, but is also one of Europe's poorest countries, with the lowest GDP (nominal) per capita of any European state. Monaco has the highest GDP (nominal) per capita of any European state. Russia is the largest transcontinental European economy and will remain so until at least 2030.
It is the second largest economy in the world in nominal terms, after the United States, and the third largest at purchasing power parity (PPP), after China and the US. The European Union's GDP is estimated to be $19.40 trillion (nominal) in 2024 [7] or $28.04 trillion (PPP), representing around one-sixth of the global economy. [28]
The German financial superpower isn't flying high these days. Europe’s largest economy, which was in a technical recession in early 2023 as its blue-chip index hit a record high, continued ...