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- Eurozone GDP grew less than expected in the third quarter
Eurozone GDP grew less than expected in the third quarter
According to an estimate published by Eurostat, in the third quarter of 2020, seasonally adjusted GDP increased by 12.5% in the euro area and by 11.5% in the EU compared with the previous quarter. Economists had expected a 12.6% increase in the euro area. These were by far the sharpest increases observed since time series started in 1995, and a rebound compared with the second quarter of 2020, when GDP had decreased by 11.7% in the euro area and by 11.3% in the EU.
Compared with the same quarter of the previous year, seasonally adjusted GDP decreased by 4.3% in the euro area and by 4.2% in the EU in the third quarter of 2020, which represents a partial recovery after -14.7% and -13.9% respectively in the previous quarter.
During the third quarter of 2020, GDP in the United States increased by 7.4% compared with the previous quarter (after -9.0% in the second quarter of 2020). Compared with the same quarter of the previous year, GDP decreased by 2.9% (after -9.0% in the previous quarter).
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