The economy of the euro region is running unexpectedly in the fourth quarter

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The eurozone economy is unexpectedly staging in the fourth quarter, which increased pressure on the European Central Bank to reduce interest rates more strongly.

The lack of growth in the quarter compared to the expansion expectations of 0.1 percent by the economists included in Reuters and 0.4 percent growth in the third quarter.

For 2024, the eurozone economy expanded by 0.7 percent, according to the data issued by Eurostat on Thursday.

The numbers just come hours before the European Central Bank is expected to reduce the standard interest rate by a quarter of a point to 2.75 percent, which is the lowest level since early 2023.

The recession also emphasizes the challenge facing the region as Germany, the largest economy in the eurozone, struggling with a severe contraction in manufacturing.

GDP in Germany has contracted 0.2 percent in the last quarter, while France’s economy is unexpectedly reduced by 0.1 percent. The output was flat in Italy.

This is a developing story