Euro Area GDP returns to growth on quarterly basis in Q3
According to the preliminary ‘flash’ estimate published by Eurostat, the Eurozone returned to growth in Q3 2020, with real GDP rebounding by a seasonally adjusted 12.7% q/q following two quarters of decline.
On an annual basis the economy contracted by 4.3% after plunging 14.8% y/y in Q2 and 3.3% y/y in Q1. The biggest quarterly growth rates were observed in France (18.2%), Spain (16.7%) and Italy (16.1%), although not all member states have reported their figures to date.
Further data and analysis on China’s economy is available on the CEIC Euro Area Economy in a Snapshot – Q3 2020 report.