EU growth rate vs UK: Bloc’s growth rate shrinks after Covid impacts

Elsewhere, the euro area also showed an upward trajectory growing by 0.3 percent in Q4.

Similarly, to the EU, growth in the euro area was down compared with performance in Q3, where a figure of 2.3 percent was reported.

Overall, GDP for both the EU and euro area improved by 5.2 percent in 2021

Why did the EU’s GDP growth shrink?

During the last quarter, a number of EU members were hit by a new wave of Covid cases triggered by the emergence of the Omicron variant.