Eurozone Emerges from Recession with Stronger-than-Expected Growth in Q1 2024

Economic growth in the Eurozone exceeded forecasts in the first quarter, led by significant contributions from Spain and France, with inflation remaining stable.

Eurozone GDP grew by 0.3% in Q1 2024, surpassing expectations of a 0.1% increase.
Spain and France recorded higher-than-anticipated growth rates of 0.7% and 0.2%, respectively.
Inflation in the Eurozone held steady at 2.4% in April, aligning with the European Central Bank's target.
Core inflation, excluding volatile items like energy and food, decreased slightly, providing room for potential interest rate cuts.
Despite economic growth, the European Central Bank is expected to begin reducing interest rates in June.