Eurozone has beaten recession as the region’s economy grew by 2% in the second three months of the year.

New data shows that there was growth in all the individual national economies which presented data.

The economy of the 19-nation bloc had suffered a double-dip recession in the previous two quarters.

A recovery is reported to be under way in the region after pandemic in the winter.

Two countries whose economies were badly damaged by the pandemic, Italy and Spain have recorded growth which approached 3% in both.

The eurozone’s two largest economies, Germany and France, have seen more moderate growth with Germany at 1.5% and 0.9% for France.

Chief Europe economist at Capital Economics, Andrew Kenningham said Portugal’s rebound might reflect “a slightly less disastrous tourism season than Spain’s”.

He predicted that “another strong number for eurozone GDP” in the third quarter of the year, which “would bring the economy close to, but below, its pre-pandemic level”.


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