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    Home » Eurozone Growth Slowed to 0.03% in Q4 as Rising Covid-19 Hampered Recovery
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    Eurozone Growth Slowed to 0.03% in Q4 as Rising Covid-19 Hampered Recovery

    January 31, 20221 Min Read
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    Growth across the Eurozone slowed at the close of last year, as a wave of Covid-19 slowed down the recovery, more so in Germany.

    • GDP across the euro area expanded by 0.3% in the October-December quarter, way slower than the 2.3% expansion posted in July-September.
    • The final quarter of the year saw Covid-19-driven restrictions imposed in some European nations as the pandemic surged last autumn.
    • The fresh wave of infections hurt service sector companies, with the Omicron variant dealing another slow down to the sectors such as travel in December.
    • Germany, the eurozone’s largest economy, slowed down growth in the Eurozone. German GDP shrank by 0.7%inthe last quarter, as its economy struggled from a surge in virus cases.

    France grew by 0.7% in the last quarter, stronger than anticipated. Spain posted 2% growth, making it the fastest-growing Eurozone member to post growth figures for Q4.

    DXY down -0.04%, EUR USD up +0.07%

    Source: Eurostat

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