January 31, 2022

According to an estimate published by Eurostat, the statistical office of the European Union, for the fourth quarter of 2021 seasonally adjusted GDP for the euro area increased by 0.3% and by 0.4% in the EU, when compared with the previous quarter. It was noted, “in the third quarter of 2021, GDP had grown by 2.3% in the euro area and 2.2% in the EU.”

Furthermore, in comparison to the fourth quarter of 2020, the seasonally adjusted GDP increased by 4.6% in the euro area and by 4.8% in the EU, after 3.9% increase in the euro area and 4.1% increase in the EU in the previous quarter.

Among the Member States, for which data are available for the fourth quarter 2021, Spain (+2.0%) recorded the highest increase compared to the previous quarter, followed by Portugal (+1.6%) and Sweden (+1.4%). Declines were observed in Austria (-2.2%), Germany (-0.7%) and in Latvia (-0.1%). The year on year growth rates were positive for all countries.

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