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European economy rebounds to 2pct growth, ending double-dip recession

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Europe’s economy rebounded into growth in the second quarter, official figures showed Friday, but lagged pre-pandemic levels and trailed the faster recoveries in the US and China, with the delta variant continuing to cast a shadow of uncertainty over the upturn.

Gross domestic product grew 2.0 percent in the April-June quarter over the quarter before, official figures from the European Union’s statistics agency Eurostat showed. That compared to a drop of 0.3 percent in the first quarter as the 19 countries that use the euro endured a double-dip recession.

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The growth figure was stronger than the 1.5 percent foreseen by market analysts.

Read more: EU looks to fast 5G, supercomputers to boost coronavirus-hit economy