The euro area economy has shrunk the largest ever

By: Trademagazin editor Date: 2020. 05. 04. 11:06

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The largest ever gross domestic product decrease occured in the euro area in the first quarter, the European Union’s statistical office, Eurostat reported on Thursday mfor.hu, wrote.

According to Eurostat calculations based on preliminary data in the first quarter, gross domestic product (GDP) in the euro area declined by 3.8 percent from the previous quarter.

The decline in GDP in the first quarter of this year was the largest since the start of the statistical record on a comparable basis in 1995. (mfor.hu)