The euro area economy recovered from a technical recession in the second quarter with the reopening of member-country economies after the coronavirus lockdowns, flash estimate from Eurostat showed on Tuesday. Gross domestic product grew 2 percent sequentially, in contrast to a 0.3 percent drop in the first quarter. The quarter-on-quarter growth rate matched the flash estimate released on July 30.
On a yearly basis, GDP rebounded 13.6 percent after shrinking 1.3 percent in the first quarter. The annual rate was revised down from 13.7 percent. The detailed breakdown for euro-zone GDP has not yet been released.
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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.