In the fourth quarter 2021, seasonally adjusted GDP increased by 0.3% in the euro area and by 0.4% in the EU, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union. In the third quarter of 2021, GDP had grown by 2.3% in the euro area and 2.2% in the EU.

According to a first estimation of annual growth for 2021, based on seasonally and calendar adjusted quarterly data, GDP increased by 5.2% in both the euro area and the EU.

These preliminary GDP flash estimates are based on data sources that are incomplete and subject to further revisions.

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 4.6% in the euro area and by 4.8% in the EU in the fourth quarter of 2021, after +3.9% in the euro area and +4.1% in the EU in the previous quarter.

Among the Member States for which data are available for the fourth quarter 2021, Spain (+2.0%) recorded the highest increase compared to the previous quarter, followed by Portugal (+1.6%) and Sweden (+1.4%). Declines were recorded in Austria (-2.2%), Germany (-0.7%) and in Latvia (-0.1%). The year on year growth rates were positive for all countries.