Eurozone out of recession after economy grows 2%

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Data suggests all economies in the 19-country bloc expanded in the last three months.

The ruling does not directly affect the European Central Bank's current coronavirus aid

In Italy and Spain, two countries whose economies were badly damaged by the pandemic, growth approached 3% in both. The growth statistics are first estimates, so there is little detail showing the breakdown of the pattern of recovery. Andrew Kenningham, chief Europe economist at Capital Economics, said Portugal's rebound might reflect "a slightly less disastrous tourism season than Spain's".

 

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