Europe's economy posts 13% growth as recovery accelerates
CNN
European economies posted stronger than expected growth in the second quarter, with consumer and business confidence booming as Covid-19 restrictions were eased.
GDP across the European Union rose by 13.2% compared with the same period last year, and by 1.9% compared with the previous quarter, according to a preliminary estimate published Friday by the EU statistics office. The 19 EU countries that use the euro currency posted even stronger growth of 13.7% and 2% respectively, easily beating a Reuters forecast of 1.5%. Unlike the United States, which posted second quarter annualized growth of 6.5% on Thursday, European GDP has yet to return to its pre-pandemic level.
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