BRUSSELS – Euro zone financial progress was pushed primarily by funding and rising inventories during the last three months of 2021, knowledge confirmed on Tuesday, as family consumption dropped due to one other wave of COVID-19 infections.
The European Union’s statistics workplace Eurostat confirmed its earlier estimates that gross home product within the 19 nations sharing the euro rose 0.3% quarter-on-quarter and 4.6% year-on-year within the October-December interval.
Funding added 0.7 proportion factors to the quarterly progress quantity, inventories an extra 0.3 factors and authorities spending 0.1 factors. Nevertheless, family consumption subtracted 0.3 factors and internet commerce took away one other 0.6 factors.
Yr-on-year commerce additionally made a destructive contribution, however family consumption was the main progress issue including 2.8 factors to the ultimate progress determine, with funding including 0.9 factors, public spending one other 0.6 factors and inventories 0.8.
Employment within the final three months of 2021 continued to rise, rising by 0.5% quarter on quarter and a couple of.2% year-on-year, Eurostat mentioned.
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