Spain led economic growth in the EU during the last quarter of 2021

Spain was the country that grew the most in the EU in the last quarter of 2021 compared to the previous quarter: 2%. The data is well above the 0.3% registered in the eurozone and 0.4% in the EU-27, according to data from Eurostat, the EU's statistical office, released this Monday.

Spain was also among the first countries in the EU in GDP growth compared to the same quarter of 2020: 5.2%, according to data advanced by the INE last Friday. A figure that is above the average for the euro zone (4.6%) and the EU 27 (4.8%).

Thus, in the fourth quarter of 2021, the seasonally adjusted GDP increased by 0.3% in the euro area and 0.4% in the EU-27, compared to the previous quarter, according to a preliminary preliminary estimate published by Eurostat , the statistical office of the European Union.

In the third quarter of 2021, GDP had grown by 2.3% in the euro area and 2.2% in the EU-27.

According to a first estimate of annual growth for 2021, based on quarterly data, GDP increased by 5.2% in both the eurozone and the EU, Eurostat reported on Monday. These preliminary provisional GDP estimates are based on data sources that are incomplete and subject to further revision.

Compared to the same quarter of the previous year, seasonally adjusted GDP increased by 4.6% in the euro area and 4.8% in the EU-27 in the fourth quarter of 2021, after +3.9% in the euro area and +4.1% in the EU 27 in the previous quarter.

Among the Member States for which Eurostat has data for the fourth quarter of 2021, Spain (+2%) recorded the largest increase compared to the previous quarter, followed by Portugal (+1.6%) and Sweden (+1, 4%).

By contrast, decreases were recorded in Austria (-2.2%), Germany (-0.7%) and Latvia (-0.1%).

The growth rates between the fourth quarter of 2021 and the same period of 2020 year were positive for all EU countries.