It comes after a number of European economies took the first steps to reopen in May, which has allowed some workers to return to their jobs. However, the social-distancing measures that remain in place and ongoing travel restrictions are limiting the pace of the recovery.
Speaking on Friday, European Central Bank President Christine Lagarde said the world may be past the worst of the pandemic, though she cautioned that there is a risk of a second wave of infections. The ECB has forecast a contraction of 8.7% in euro zone gross domestic product for the whole of 2020, followed by a rebound of 5.2% economic growth in 2021.
Those are better than expected numbers. Expected was 7.7% - watch out for your headline.
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