Eurozone Preliminary GDP Arrives at 12.6% QoQ in Q3

The Eurozone economy saw a rebound of 12.6% on quarter in the three months to September of 2020, missing +12.7% expected. Data released by the European Statistics Office (Eurostat) revealed on Friday.

On an annualized basis, the bloc’s GDP dropped by 4.4% in Q3 vs. -4.3% seen in the previous reading while missing expectations of -4.3%.

This reading represents the fastest pace of expansion since 1995, supported by the revival of activity and demand, as the closure imposed to contain the spread of the Coronavirus pandemic was gradually lifted.