The European zone economy soared in the third quarter which was driven by several factors such as the social sanctions implemented in the quarter were withdrawn. However, fears remain as Europe's two largest economies, France and Germany, have announced curfews across the state.
Gross domestic product (GDP) or GDP of European zones grew by 12.7% in the third quarter compared to the previous quarter.
This surge is good news after the European zone economy recorded a contraction of 11.8% in the second quarter. However, the momentum is feared to be limited because the governments of some European countries want to impose social sanctions again.
According to Claus Vistesen, economist at the Macro Pantheon, in a note that the European zone economy is recovering even though full recovery is still in process. The focus of the market is now on the fourth quarter economic growth with the surge in the Covid-19 case rising again.
The Euro showed a positive reading with a strengthening of 0.14% against the US dollar to the exchange rate of 1.1689 as of 9.15 p.m.
