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Growth: clouds after a strong rebound in Europe

2021-10-29T20:56:27.306Z


GDP growth, mainly driven by strong household consumption and tourism, reached 2.2% on average in the euro area.


During the sharp slowdown in US and Chinese growth in the third quarter, Europe stood out for the strength of its economic rebound.

GDP growth averaged 2.2% in the euro area, after 2.1% in the second quarter and a recession in the two previous quarters.

It was mainly driven by strong household consumption and tourism, while bottlenecks weighed on the industry.

See also

Historic rebound in French growth

This partly explains the respective geographic performances.

Austria (+ 3.3%), France (+ 3%), Portugal (+ 2.9%) and Italy (+ 2.6%) are in the lead.

Conversely, Germany is disappointing, with an increase of only 1.8%.

The largest economy in the euro area had, of course, experienced less collapse than other countries in 2020, but its recovery is heavily affected by the shortages that are holding back the industry.

Angela Merkel's government on Wednesday revised its growth forecast sharply to

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Source: lefigaro

All news articles on 2021-10-29

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