Euro area GDP rises 3.9% year-on-year in Q3

By Tuba Sahin

ANKARA (AA) – Gross domestic product (GDP) in the euro area rose 3.9% year-on-year in the third quarter of 2021, beating a flash estimate of 3.7%, Eurostat announced on Tuesday.

GDP in the EU climbed 4.1% this July-September, compared to the same period last year.

The eurozone/euro area or EA19 represents the member states that use the single currency – the euro – while the EU27 defines all member countries of the bloc.

On a quarterly basis the figure was in line with the flash estimate for both the euro area and the EU27.

"In the third quarter of 2021, seasonally adjusted GDP increased by 2.2% in the euro area and by 2.1% in the EU compared with the previous quarter," said a Eurostat statement.

The highest economic growth rate was seen in Austria with 3.8%, followed by France (+3.0) and Portugal (+2.9%), while the lowest GDP rises were in Romania and Slovakia (+0.4%).