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This week's announcements

Friday, August 14, 2020

Following on from the record breaking decline in UK GDP for the second quarter earlier this week, we have just had the eurozone GDP print for the same period. It’s ugly, but not as disastrous as the UK. Second quarter growth for the eurozone fell a more modest 12.1%, in line with estimates, taking overall output to levels last seen in 2005 (compared to the UK, which slumped back to 2003 levels). While we are seeing a rebound in activity, it is clear it will be a slow and fragmented process as consumers still remain in a state of nervous exhaustion with the effects of the pandemic and potential lockdown re-impositions.  

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