Eurozone, EU Economic Growth Cool in Fourth Quarter of 2021

Source: Eurostat

The eurozone and the European Union economies continued to expand in the fourth quarter of 2021, albeit at a slower pace than the previous quarter. EZU is down 1.14%, while VGK is up 0.03% premarket.

• The euro area’s fourth-quarter seasonally adjusted GDP grew by 0.3% from the previous quarter. This is slower than the 2.3% growth in the third quarter.
• Compared with the same quarter in the previous year, the euro area’s economic growth accelerated to 4.6% from 3.9% in the previous quarter.
• European Union’s quarterly economic growth slipped to 0.4%, down from 2.3% in the third quarter.
• Annual growth in the EU climbed to 4.8% in the fourth quarter, up from the 4.1% recorded in the previous quarter.
• The highest increases from the previous quarter were in Spain, Portugal, and Sweden.
• The steepest quarterly declines were seen in Austria, Germany, and Latvia.
• Year-on-year growth rates were positive for all countries.