10/30, 11:00 AM (Source: TeleTrader)
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Eurozone quarterly GDP growth hits 12.7% in Q3

The seasonally adjusted gross domestic product (GDP) in the euro area (EA19) rose by better-than-expected 12.7% in the third quarter of 2020 compared to the previous trimester, according to an estimate released by Eurostat on Friday. In the entire European Union (EU27), the economy grew by 12.1% on a quarterly basis. Both figures represent the biggest GDP increase since the report started getting published in 1995.

The GDP contracted by 4.3% in the Eurozone and by 3.9% in the EU27 in the third quarter compared to the same time span a year ago.

In the EA19, the French economy grew by leading 18.2%, while Lithuania's GDP only increased by 3.7%.

Breaking the News / MS