Economics
Euro-Area Growth Surged by Record Before New Setback: GDP Update
- Virus restrictions could push euro area into another recession
- ECB has signaled it will expand stimulus again in December
The government is reactivating a solidarity fund to help companies weather the crisis.
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
The euro-area economy surged by a record in the third quarter in a rebound that’s now being derailed by an intensifying pandemic and new government restrictions on businesses across the region.
The bloc grew 12.7%, well ahead of the 9.6% pace forecast by economists. France, Italy and Spain all recorded double-digit increases, and GDP in Germany jumped 8.2%. Those bouncebacks follow huge slumps in the previous three months, when activity came to a near halt amid lockdowns to contain the coronavirus.