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Eurozone’s GDP Rose by 2.2% in Q3, Employment in Q3 Slightly Tops Q2 Rising 0.9%

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The eurozone GDP grew by 2.2% in Q3 of 2021 and expanded by 2.1% in the EU after the same GDP growth in Q2.

Source: Eurostat

Euro Stoxx 50 up +2.46%, EUR USD down -0.34%

Among the euro area countries, Austria posted the highest increase in GDP at 3.8%, followed by France, +3.0%, and Portugal, +2.9%.

The lowest GDP growth rates in the trading bloc were recorded in Romania and Slovakia at 0.4%, as the GDP of Lithuania remained unchanged.

The increase in household final consumption expenditures by 4.1% in the eurozone and by 4.0% in the EU contributed to positive growth in GDP in the euro area and the EU.

Employment in both the eurozone and EU grew by 0.9% in Q3, slightly higher than the 0.8% reported in Q2 of 2021.

In Q3 of 2021, Ireland (+4.0%), Spain (+2.6%), Lithuania (+2.1), Estonia, and Greece (both at +1.9%) posted the highest employment growth. But employment dropped in Latvia (-2.0%) and remained unchanged in Finland.

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