Gross domestic product in the 19-country Eurozone bloc rose by 12.5% in the July-September period from the previous quarter, the largest increase since 1995, according to Reuters. The summer surge in output was driven by domestic consumption and exports as shops and factories reopened after lockdowns.
- The July-September output was a slight downward revision from the 12.6% estimate from November.
- Year on year, the output was a contraction of 4.3%, slightly above the previous estimate of a 4.4% drop.
- Consumer spending rose by 14.0% in the third quarter from the second, when it fell by 12.4%.
- Exports increased by 17.1% in the third quarter after an 18.9% drop in April-June.
- Employment rose by 1.0% in the third quarter after a 3.0% decline in the second.
European stocks are currently declining as the Euro gains. DAX is down 0.086%, EURUSD is up 0.10%