In the third quarter of 2020, seasonally adjusted GDP increased by 12.7% in the euro area and by 12.1% in the EU, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union.
These were by far the sharpest increases observed since the time series started in 1995, and a rebound compared to the second quarter of 2020 when GDP had decreased by 11.8% in the euro area and by 11.4% in the EU.
Compared with the same quarter of the previous year, seasonally adjusted GDP has however decreased by 4.3% in the euro area and by 3.9% in the EU in the third quarter of 2020, which represents a partial recovery after -14.8% and -13.9% respectively in the previous quarter.
Among the Member States, for which data are available for the third quarter of 2020, France (+18.2%) recorded the highest increase compared to the previous quarter, followed by Spain (+16.7%) and Italy (+16.1%). Lithuania (+3.7%), Czech Republic (+6.2%), and Latvia (+6.6%) recorded the lowest increases. While a rebound was observed for all publishing countries compared to the second quarter, the year on year growth rates was still negative.
