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Eurozone economic growth was driven by investment and rising inventories in the last three months of 2021, as household consumption fell due to a fresh wave of COVID-19 infections.
Source: eurostat
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Eurostat stated that the gross domestic product in the 19 countries sharing the euro increased by 0.3% quarter-on-quarter and 4.6% year-on-year in the October-December period.
Investment expanded by 0.7 percentage points to the quarterly growth figures, inventories rose by 0.3 points, and government spending 0.1 points.
Meanwhile, household consumption dropped by 0.3 points and net trade contracted by another 0.6 points.
Household consumption was a key growth factor expanding by 2.8 points to the final growth number, with investment up 0.9 points, public spending up 0.6 points, and inventories rising by 0.8 points.
Employment during the last three months of 2021 continued to expand, rising by 0.5% quarter on quarter and 2.2% year on year.
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