Eurozone growth soars by a record 12.7% but fears grow for winter

The European economy grew by an unexpectedly large 12.7% in the third quarter as companies reopened after severe coronavirus lockdowns, but the rebound is being overshadowed by worries that growing numbers of infections will cause a new downturn in the final months of the year.

The upturn in the July-September quarter — and the worries about what lies ahead — echoed the situation in the US, where reopenings led to strong third-quarter recovery but did not dispel fears for the winter months.

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