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EU, Euro Area GDP Rebound Over 13% in Second Quarter

August 17, 2021 by Forex Winner Leave a Comment

EU, Euro Area GDP Rebound Over 13% in Second Quarter

Source: EuroStat

The European Union and Euro area economy rebounded in the second quarter, following several quarters in negative territory.

  • The Euro area gross domestic product climbed 13.6% year-on-year and 2.0% when compared with the first quarter.
  • The European Union economy expanded 13.2% year-on-year and 1.9% quarter-on-quarter.
  • The biggest annual growths were seen in Spain, France, Hungary, Italy, and Portugal.
  • Double-digit growth was also recorded in Belgium, Romania, Cyprus, Austria, Poland, and Slovakia.
  • In terms of employment, the number of payrolled individuals jumped by 0.5% in the Euro area and by 0.6% in the second quarter versus the first quarter.
  • Year-on-year employment growth was recorded at 1.8% in both the EU and the Euro area.

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