The second quarter of the year apparently brought about a revival of the economy in the euro countries. There is particularly strong growth in two southern European countries.
In the eurozone, the economy picked up speed again in the spring. In the second quarter, the gross domestic product (GDP) increased by 2.0 percent in a quarterly comparison, the Eurostat statistics office announced on Tuesday after a second estimate.
This confirms an initial estimate for the period from April to June. In the winter half of the year, measures to contain the corona pandemic had still burdened the euro zone. In the first quarter, the economy shrank by 0.3 percent quarter-on-quarter and in the final quarter of 2020 by 0.6 percent. If the economy shrinks for two consecutive quarters, economists speak of a technical recession.
The Spanish economy grew particularly strongly among the four largest economies in the currency area. The GDP increased by 2.8 percent. The Italian economy grew by 2.7 percent, while the German economy grew by 1.5 percent and the French economy grew by 0.9 percent.
Compared to the same quarter of the previous year, the economy in the euro zone grew by 13.6 percent in the second quarter. In a first estimate, 13.7 percent were determined. The second quarter of the previous year was heavily impacted by the Corona crisis.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
