Latest data released by Destatis – 30 July 2021
- Prior -0.3%
- GDP +13.7% y/y
- Prior -1.3%
A solid beat sees the euro area economy bounce back after a more subdued Q1, helped by looser virus restrictions in general. Demand conditions returned strongly and was a key contributor to the rebound in economic activity.
The summer optimism is still intact and should keep conditions more upbeat in Q3 but we’ll see how things go in the months ahead to be certain.