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Investing.com -- The economy of the euro zone experienced higher growth in the last quarter of 2024 than initially estimated, with the majority of this revision attributed to Ireland, according to figures released by Eurostat on Friday.
The GDP of the 20 nations that share the euro currency increased by 0.2% for the quarter, a slight improvement from the earlier estimate of 0.1% growth. However, the figures for most countries, including Germany and France, remained the same as preliminary data, both showing contractions.
The Irish economy, which was initially believed to have shrunk by 1.3%, is now estimated to have grown by 3.6%. This significant adjustment is due to the large multinational sector in Ireland, which often skews data, and does not indicate any change in the outlook for the sluggish euro zone bloc.
The euro zone economy is struggling to expand as households are reducing their consumption, governments have limited funds to spend, the industry is in a recession, and companies are holding back investments as they await clarity on U.S. trade policies.
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