Economic growth in both the eurozone and the European Union posted higher annual growth in the fourth quarter of 2021 but slowed down versus the three months prior.
VGK is up 1.70%, and EZU is up 2.04% premarket.
Eurozone’s gross domestic product grew by 4.6% in the fourth quarter from the previous year, higher than the 3.9% recorded in the third quarter. GDP grew by 0.3% on a quarterly basis, slower than the 2.3% growth recorded in the previous quarter.
The European Union GDP posted annual growth of 4.8% in the fourth quarter, higher than the 4.1% in the third quarter. GDP gained 0.4% quarterly, marking a slowdown from the 2.2% growth in the third quarter.
The same trend was seen in employment, with the eurozone posting annual growth of 2.1% and quarterly growth of 0.5%. The European Union recorded annual employment growth of 2.1%, and quarterly growth of 0.5%.
Full-year growth for 2021 was recorded at 5.2% in both the euro area and the EU.