Eurozone GDP grew 12.7% qoq in Q3, well above expectation of 9.0% yoy. That’s also more than enough to cover the -11.8% qoq contraction in Q2. Besides, it’s the sharpest increase on record since 1995.
EU GDP grew 12.1% qoq. Among the Member States, for which data are available for the third quarter 2020, France (+18.2%) recorded the highest increase compared to the previous quarter, followed by Spain (+16.7%) and Italy (+16.1%). Lithuania (+3.7%), Cheeky (+6.2%) and Latvia (+6.6%) recorded the lowest increases. While a rebound was observed for all publishing countries compared to the second quarter, the year on year growth rates were still negative.
Eurozone CPI was unchanged at -0.3% yoy in October, matched expectations CPI core was also unchanged at 0.2% yoy. Unemployment rate rose 0.2% to 8.3% in September, matched expectations.
