The European Union’s economy maintained its steady growth at the end of 2024 and into early 2025, with moderate GDP expansion and record employment levels. According to the latest data, the job vacancy rate remained stable, while labor market slack reached historic lows. In January 2025, unemployment remained at its lowest level since late 2024.
Regarding key sectors, European industry showed slight growth in January 2025, reinforcing its stability. Meanwhile, the services sector continued its upward trend, reaching a new all-time high in December 2024. However, retail trade saw a moderate decline in January.
Another positive sign for the EU economy was the decrease in annual inflation in February 2025, returning to December 2024 levels. Additionally, economic sentiment in the region showed a slight improvement, reflecting increased confidence in future economic prospects.
On the social front, the number of non-EU citizens applying for asylum for the first time in December 2024 reached its lowest level since June 2022. Furthermore, excess mortality in the region steadily declined over the last three months of 2024.
These figures highlight a stable and growing European economy, supported by a strong labor market, controlled inflation, and a favorable environment for further economic expansion in 2025.
source: EUROSTAT