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The Eurozone economy saw a sharp turnaround of 12.7% on quarter in the three months to September of 2020, beating +9.4% expected, the first estimate showed on Friday. 

On an annualized basis, the bloc’s GDP contracted 4.3% in Q3 vs. -14.7% seen in the previous readout while beating -7.0% expectations.

more to come …

About Eurozone Preliminary GDP

The Gross Domestic Product released by the Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).