Euro Area GDP returns to growth on quarterly basis in Q3
On an annual basis, the economy contracted by 4.3% after plunging 14.8% y/y in Q2
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.