Economy
Economic growth in the euro zone stabilizes in summer
In the third quarter of 2021, GDP in the euro zone increased by 2.2 percent quarter on quarter. Photo: Daniel Josling / dpa / symbol image
© dpa-infocom GmbH
In the third quarter of 2021, GDP in the euro zone increased by 2.2 percent. But the differences between the countries are sometimes large.
In the euro zone, economic growth stabilized in the summer. In the third quarter, the gross domestic product (GDP) rose by 2.2 percent in a quarterly comparison, the Eurostat statistics office announced after a third estimate.
This confirms a previous estimate. In the second quarter, the economy had also grown by 2.2 percent.
There are noticeable differences between the countries in the euro zone. Among the major member states, France recorded the highest quarter-on-quarter growth at 3.0 percent. In Italy, too, it is above average at 2.6 percent. Spain with 2.0 percent and Germany with 1.7 do noticeably weaker.
Compared to the same period in the previous year, the euro zone’s economy grew by a revised 3.9 percent in the summer. Up to now, 3.7 percent had been assumed here.
Economists expect a significantly weaker development for the fourth quarter. In addition to ongoing delivery bottlenecks, the increasing number of infections with the coronavirus are dampening economic development. Corona restrictions have been tightened in many countries. This is likely to have a particularly negative impact on the service sector.