The euro area economy recovered in the second quarter, after two straight quarters of contraction, driven by the lifting of lockdowns and the implementation of vaccination programmes, the preliminary flash estimate from Eurostat showed on Friday.
Inflation exceeded the European Central Bank's target in July on higher energy prices, another report from the statistical office showed.
The unemployment rate in the currency bloc dropped to the lowest since May 2020 as firms hired more staff amid economic recovery.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.