Gross Domestic Product (GDP) grew by 2.1% in the European Union and by 2.2% in the euro area in the third quarter of 2021, which is equal to the increase recorded in the previous quarter, the European Statistical Office (Eurostat) said on Tuesday
MOSCOW (Pakistan Point News / Sputnik - 07th December, 2021) Gross Domestic Product (GDP) grew by 2.1% in the European Union and by 2.2% in the euro area in the third quarter of 2021, which is equal to the increase recorded in the previous quarter, the European Statistical Office (Eurostat) said on Tuesday.
"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 ... In the second quarter of 2021, GDP had also grown by 2.2% in the euro area and 2.1% in the EU," Eurostat said.
The largest growth was reported by Austria with 3.8%, followed by France with 3.0% and Portugal with 2.9%; the lowest was in Romania and Slovakia with 0.4 % each. Lithuania's GDP remained stable, recording 0.0% of growth.
According to the report, GDP growth both in the EU and the euro area was primarily driven by household final consumption expenditure.
At the same time, despite the continued growth, GDP volumes remained 0.3% in the euro area and 0.1% in the EU, below the pre-pandemic level of 2019, Eurostat said.
