The eurozone economy rebounded 2.0% quarter-on-quarter in the second quarter of 2021, equaling the 2.0% expected and the 2.0% seen previously, as confirmed by the second reading on Tuesday.
On an annualized basis, the bloc’s GDP rate expanded by 13.6% in the second quarter compared to the 13.7% seen in the first estimate, while it came below expectations of 13.7%.
On the other hand, the preliminary change in employment in the euro area coincided with market expectations of 0.5% in the second quarter, compared to the -0.3% seen in the first quarter.
On the preliminary GDP of the eurozone
The GDP published by the statistics office of the European Commission Eurostat is an estimate of the total value of goods and services produced in the Eurozone. GDP is considered a measure of global economic activity and indicates the rate of growth of a country’s economy. A reading above expectations is bullish for the euro, while a reading below is bearish.
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