Erste Group Research: Strong consumption fuels imports in 2024

The publication of the structure of the GDP growth in 2024 brings no major data revisions, shows data presented by Erste Group Research. The 4Q24 growth remains at +0.8% q/q and +0.7% y/y. The full year 2024 GDP growth stands at +0.9%, decelerating from +2.4% in 2023. Therefore, Erste Group Research estimates that by looking at the structure, the picture is quite clear: consumption was strong in 2024 but it mainly fueled imports; exports were not great due to weak external ...

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