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Eurozone, EU Economies Post Higher Annual Growth, Slower Quarterly Growth in Q4

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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.

Source: Eurostat

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.

 

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