Eurozone resilience unlikely to last on 'rocky start' to vaccines rollout

German chancellor Angela Merkel. Robust exports helped Europe’s largest economy, Germany, to eke out 0.1% growth in the fourth quarter. Picture: John MacDougall/Pool via AP

Growth in Germany and Spain and a smaller-than-expected contraction in France pointed to resilience in the eurozone economy in the final three months of last year, but the bright spot belies a more troubled outlook. 

In Germany, robust exports helped Europe’s largest economy eke out 0.1% growth in the fourth quarter, staving off contraction despite a second wave of the new coronavirus slamming the brakes on consumption, new data showed.