ECONOMY

Eurozone sees GDP rebound for second quarter

eurozone-sees-gdp-rebound-for-second-quarter

Gross domestic product in the eurozone rebounded 2% in the second quarter of this year compared to the previous one on the back of two consecutive quarterly declines, Eurostat said on Friday. 

In Q2 2021, seasonally adjusted GDP in the 27-member EU grew by 1.9%. Year-on-year, seasonally adjusted GDP increased by 13.7% in the eurozone and by 13.2% in the EU in Q2. Eurostat said that growth was mainly due to the progress in the Covid-19 vaccination campaigns across the bloc and to the gradual lifting of restrictions by the member-states, which reignited the individual economies. 

Among the EU countries for which data are available, Portugal recorded the highest quarter-on-quarter GDP increase at 4.9%, followed by Austria (4.3%) and Latvia (3.7%). Lithuania (0.4%) and the Czech Republic (0.6%) recorded the lowest rise. [Xinhua]