Seasonally adjusted GDP grew by 0.3 per cent in October – December from the previous quarter, according to preliminary data published on Monday.
Eurozone the economic recovery slowed markedly at the end of last year due to the worsening of the coronavirus pandemic. New restrictions were imposed in many states and the pandemic continued to disrupt supply.
According to preliminary data published by Eurostat on Monday, the seasonally adjusted GDP grew by 0.3 per cent in October to December from the previous quarter.
In the previous quarter, ie in July – September, GDP grew by 2.3 per cent, and before that by 2.2 per cent in April – June.
Standard of living measuring gross domestic product means the total value of goods and services produced for final use.
In Germany, the largest economy in the euro area, seasonally adjusted GDP contracted by 0.7 per cent in October – December from the previous quarter.
In the second largest economy, France, the economy grew by 0.7% and in the third largest economy, Italy, by 0.6%. On Monday, Eurostat published preliminary data for only a small number of countries, including Finland.
However, the slowdown in economic growth in the euro area will almost inevitably affect the Finnish economy. Namely, 40% of the value of exports of goods goes to the euro area.
Size Looking at the year, the euro area recovered 5.2% from the severe recession of 2020. In the recession, the eurozone economy collapsed by 6.4 per cent.
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