Eurozone economy grows 0.3% quarter-on-quarter in Q4

By Aysu Bicer

ANKARA (AA) - The euro area's gross domestic product (GDP) grew by 0.3% in the fourth quarter of 2021 compared to the previous quarter, according to a flash estimate by Eurostat on Monday.

EU27 GDP rose 0.4% in the same period.

In the third quarter of 2021, GDP expanded by 2.3% in the euro area and 2.2% in the EU.

"Seasonally adjusted GDP increased by 4.6% in the euro area and by 4.8% in the EU in the fourth quarter of 2021, compared with the same quarter of the previous year," it added.

The eurozone/euro area, or EA19, represents the bloc's member states that use the single currency -- the euro -- while the EU27 denotes all members of the union.

Spain posted the best performance among the countries for which data is available, with quarterly growth of 2% in October-December, while the lowest GDP rise was seen in Austria with 2.2%.

Seasonally and calendar-adjusted quarterly data indicate that GDP increased by 5.2% annually in both the euro area and the EU.