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Eurozone GDP Falls to Six-Year Low
February 3, 2020
The eurozone economy grew by just 0.4 percent in the last quarter of 2019, bringing growth to the entire year to 1.2 percent. This is the weakest performance since 2013, when the region was dealing with government debt and banking crises.
Manufacturing on the continent continues to falter, particularly the automobile industry, which is struggling with soft demand internationally and the expense of developing electric cars. The bloc also faces long-term concerns like an aging population and limited presence in digital sectors.
Economists who spoke to the Wall Street Journal don’t expect growth for the region to pick up in 2020, as the region now faces the departure of the U.K. and increasing trade tensions with the U.S.
