The euro area recovered at a faster-than-estimated pace in the second quarter from the Covid-driven downturn, revised data from Eurostat showed on Tuesday.
Gross domestic product grew 2.2 percent sequentially in the second quarter, bigger than the initial estimate of 2.0 percent. The growth reversed the 0.3 percent fall in the first quarter and the 0.4 percent drop in the fourth quarter of 2020.
Year-on-year, GDP expanded 14.3 percent instead of the prior estimate of 13.6 percent. This follows a 1.2 percent decline in the first quarter.
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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.