In the fourth quarter of 2021, seasonally adjusted GDP rose 0.3% in the euro area and 0.4% in the European Union compared with the previous quarter, according to the estimate published by the statistical office of the EU (Eurostat) on Thursday, 10 March.
Over 2021 as a whole, GDP increased 5.3% in the euro area and in the EU, after −6.4% and −5.9%, respectively, in 2020.
Slovenia (+5.4%) recorded the highest increase in GDP compared to the previous quarter, followed by Malta (+2.3%) and then Spain and Hungary (+2.0% for both of these countries). Decreases were recorded in Ireland (−5.4%), Austria (−1.5%), and Germany (−0.3%) as well as in Croatia, Latvia, and Romania (−0.1% each).
Employment. In the fourth quarter of 2021, the number of employed persons increased 0.5% in the euro area and in the EU compared with the previous quarter.
Over 2021 as a whole, the number of employed persons increased 1.1% in the euro area and 1.2% in the EU, after −1.5% and −1.4%, respectively, in 2020.
In the fourth quarter of 2021, Hungary (+1.2%), Denmark (+1.1%), Spain (+1.0%), and Malta (+1.0%) recorded the highest growth in employment compared to the previous quarter. Decreases were observed in Latvia (−0.3%), and the employment rate remained stable in Bulgaria, Portugal, and Sweden.
In connection with the Covid-19 pandemic, employment measured in the number of people in the euro area was 0.6 million higher than the level in the fourth quarter of 2019 and 1.2 million higher than that level in the EU. (Original version in French by Mathieu Bion)