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European economy rapidly gets back on track

European economy rapidly gets back on track

Some time ago, economists were preparing to face the worst scenario concerning the European economy. There were a lot of reasons for pessimism. However, the situation has radically changed.

The European economy has stopped its contraction and entered the recovery phase. It seems that during the quarantine, people in Europe became so bored that now they are working like never before. There is a jump in all spheres from the largest producers to small retailers.  Several months of forced downtime were replaced by rapid growth in business activity.

Of course, this year, the economy saw a slump and most organizations have changed their business approach forever. Nevertheless, the economic indicators are climbing. For example, in June, the number of employed people advanced and consumer confidence also improved.  A massive aid package is supporting people and businesses thus raising hopes for a bright economic future. 


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