Eurozone Preliminary GDP rebounds 2.0% QoQ in Q2 vs. 1.5% expected

The Eurozone economy rebounded 2.0% on quarter in the three months to June of 2021, beating 1.5% expected and -0.3% prior, the first estimate showed on Friday. 

On an annualized basis, the bloc’s GDP rate expanded by 13.7% in Q2 vs. -1.3% booked in the first quarter of 2021 while beating 13.2% expectations.

Separately, Eurozone's unemployment rate arrived at 7.7% in June when compared to May’s 7.9%.

more to come ...

About Eurozone Preliminary GDP

The Gross Domestic Product released by Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).