Europe continues to closely monitor the state of its own economy affected by the coronavirus pandemic. The latest data suggests that it is on the road to recovery.

The economy of the region is experiencing its major slowdown. Moreover, Europe was about to tip into prolonged recession, but the latest statistics changed that gloomy picture a bit. The measures aimed at countering the impact of the coronavirus as well as the gradual lifting of restrictions have significantly improved the general economic situation. Of course, it is still too early to make any optimistic projections as a second wave of the COVID-19 pandemic may undermine confidence in further economic rebound. Nevertheless, we can see significant improvement in key economic indicators. For example, the unemployment rate has ticked back down, the common European currency is gaining ground, while consumer confidence is growing. The ECB is ready to dive deeper into negative interest rates. If necessary, the regulator will take additional stimulus measures with a view to easing its monetary policy.

In general, things are on track. The outlook for the European economy is quite positive. However, in order to draw more reliable conclusions, it is necessary to wait for a fresh batch of economic data.