Eurozone Grows in the Third Quarter

Eurozone Grows in the Third Quarter The Eurozone grows in the third quarter. The economy grew record-breaking in the third quarter of the year in the Eurozone, which was struggling with the number of cases that experienced an increase in the epidemic and the re-restrictions. In Europe, which experienced the second wave of the coronavirus epidemic that emerged in Wuhan, China's Hubey province, the increase in the number of cases and the solidifying measures put the economy and businesses in the Eurozone to a bad state again. The growth in the Eurozone with 12.7 percent in the said period exceeded the expectations of 9.6 percent of economists. Growth in France, Italy and Spain was recorded at double digits. Germany's economy grew by 8.2 percent. However, with the economic activities coming to a halt as a result of the measures taken against the epidemic before these increases, there were serious losses in GDP figures. Despite strong growth figures, current indicators show a more pessimistic picture. However, the economy is at risk of going into recession again. The European Central Bank (ECB), aware of the inflation rate below zero and the increasing risk, gave the message that more incentives will come in December. The German economy grew 8.2 percent in the same period, exceeding estimates of 7.3 percent. Minister of Economy Peter Altmaier recalled that the government expects a slightly smaller contraction in 2020 than previously expected.