Economic growth in the eurozone was boosted mainly by investment and rising inventories in the last quarter of 2021, according to Eurostat data, as household consumption declined due to the pandemic.
The European Union’s statistical office has confirmed its initial estimates that eurozone GDP grew by 0.3% on a quarterly basis and 4.6% on an annual basis.
Investments added 0.7% to quarterly growth, inventories a further 0.3% and government spending 0.1%.
However, household consumption deducted 0.3 points from GDP and net trade another 0.6 points.
Trade on an annual basis also contributed negatively, but household consumption was the main driver of growth, adding 2.8 points to the final growth rate, with investment adding 0.9 points, public spending another 0.6 points and stocks 0.8 units.
Employment in the last three months of 2021 continued to grow, showing an increase of 0.5% over the previous quarter and 2.2% on an annual basis, said Eurostat.
Source: Capital
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