European markets post worst month since October 2020, as recovery slows – business live | Business
Growth across the eurozone slowed at the end of last year, as the winter wave of Covid-19 hampered the recovery, particularly in Germany.
GDP across the euro area rose by 0.3% in the October-December quarter, much slower than the pacy 2.3% expansion recorded in July-September.
Eurozone GDP to Q4 2021 Photograph: Eurostat
The final quarter of the year saw restrictions imposed in some European countries, as the pandemic surged last autumn. This hit service sector companies, with the Omicron variant dealing another blow to sectors such as travel in December.
Germany, the eurozone’s largest member, dragged eurozone growth back.
German GDP contracted by 0.7% in the last quarter, as its economy suffered from a surge in virus cases and ongoing supply chain disruption which held back…
