The Eurozone economy rebounded 2.0% on quarter in the second quarter of 2021, meeting 2.0% expected and 2.0% prior, the second reading confirmed on Tuesday.
On an annualized basis, the bloc’s GDP rate expanded by 13.6% in Q2 vs. 13.7% booked in the first estimate while missing 13.7% expectations.
Separately, Eurozone's Preliminary Employment Change matched estimated with 0.5% in Q2 when compared to -0.3% booked in the first quarter.
FX implications
The euro is unfazed by the mixed Eurozone growth and jobs data, as EUR/USD consolidates its bounce around 1.1775, almost unchanged on the day. The spot hit a daily high of 1.1785 in the last hour.
About Eurozone Preliminary GDP
The Gross Domestic Product released by 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).
