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October 29, 2021EU AND EURO AREA GDP, Q3 2021 [PRELIMINARY FLASH] 
In the preliminary flash GDP estimate for Q3 2021, EuroStats estimates the seasonally adjusted annualized rate growth rate for European Union (EU27) was 8.6% and 9.1% for the Euro Area (EA19). With gradual easing of restrictions, growth picked up in both regions. Compared to Q3 2020, EU27 GDP is 3.9% larger and EA19 GDP is 3.7% larger.
Compared to the pre-pandemic Q4 2019 GDP, the European Union economy was 0.2% smaller and the Euro Area economy was 0.5% smaller in Q3 2021.
A seasonally adjusted annualized rate shows what the percent change would be if the quarterly rate was compounded for four quarters. Reporting annualized rates facilitates comparability between annual and quarterly growth but can exaggerate change when series are volatile. The recovery from the COVID-19 shocks do not indicate growth of EU GDP by 8.6% in Q3. It would take four quarters of compounded growth at the same pace as reported in Q3 to increase EU GDP by 8.6%. Real GDP in Q3 increased 2.1% in the EU27 and 2.2% in the EA19 compared to the previous quarter (non-annualized).
Source: Eurostat
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