Report
Will the euro-zone economy recover in 2024?
Cumulative growth over the four quarters of 2023 in the euro zone was 0.1%. We believe there will be a noticeable upturn in growth in 2024, for the following reasons: We are starting to see an improvement in the residential real estate market, with an increase in housing starts and in demand for mortgage loans, and with less restrictive credit supply conditions; Household consumption will benefit from a slight increase in wage earners’ purchasing power, as inflation falls and the labour market remains very tight; The need for corporate investment is significant, due to the previous underinvestment and the investment needed to achieve the energy transition. Of course, productivity gains will remain very low or even zero, which means that growth will require an increase in the employment rate in the euro zone, which is possible given its low level.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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