Euro area economy grows by 0.3% in Q4 as expected
|- Euro area GDP expanded by 0.3% in Q4 as expected.
- EUR/USD clings to modest daily gains, trades below 1.0900.
The data published by Eurostat showed on Tuesday that seasonally adjusted Gross Domestic Product (GDP) in the euro area expanded by 0.3% on a quarterly basis in the fourth quarter. This print came in line with the initial estimate and the market expectation. Compared with the same quarter of the previous year, GDP grew by 4.6%.
"For the year 2021 as a whole, GDP increased by 5.3% in both the euro area and EU, after -6.4% and -5.9% respectively in 2020," the publication further read.
Other data from the euro area revealed that the Employment Change in the fourth quarter was up 0.5%, matching analysts' forecast.
Market reaction
These data don't seem to be having a noticeable impact on the shared currency's performance against its rivals. As of writing, EUR/USD was up 0.25% on the day at 1.0880.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.