Eurozone growth bolsters prospects for huge Irish economic rebound

Ireland's economic figures for the comparable quarter will be released in the coming weeks but it is already clear the uplift will be significant.

The prospects of the Irish economy powering out of the Covid-19 crisis has brightened further after new figures showed the eurozone expanded more sharply than expected, with pandemic-hit Italy and Spain performing remarkably well. 

Eurostat said its initial estimate showed GDP in the 19 countries that use the euro grew 2% since the beginning of April to the end of June from the previous quarter. Compared to the same period a year earlier, when lockdowns to slow the spread of the coronavirus brought economic activity close to a standstill, GDP jumped 13.7%.