At long last, Europe’s economy is starting to grow
Now for the hard part
There is only one problem with chatter about Europe’s “soft landing”: its economy never truly flew. Whereas America’s growth has consistently amazed, Europe’s has been miserable. Exclude Ireland, where statistics are distorted by multinational firms minimising tax, and the EU’s GDP has risen by about 3% since 2019, compared with a 9% increase in America.
This article appeared in the Finance & economics section of the print edition under the headline “Ode to joy”
Finance & economics May 25th 2024
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