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.