The CEPR-EABCN Euro Area Business Cycle Dating Committee has declared that the euro area recession that had started after 2019Q4 has reached its trough in 2020Q2. The two quarters of negative GDP growth in 2020Q4 and 2021Q1 are judged, based on available data, to be part of the unsteady expansion that started after this 2020Q2 trough. A sui generis recovery is following a sui generis recession.
DBC
Fall 2021 statement of the Dating Committee on the current state of the economic activity in the euro area.
