Euro area and EU GDP declined at a record pace in the first quarter

By: Trademagazin editor Date: 2020. 06. 09. 11:10

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Compared to the previous quarter, euro area and EU gross domestic product fell by the largest amount ever recorded in the first quarter.

The European Union’s statistical office, Eurostat, said on Tuesday as a non-definitive figure that in the first quarter, the gross domestic product (GDP) of the 19 member states of the euro area fell by 3.6 percent quarter-on-quarter and by 3.2 percent in the 27 member states of the European Union.
The rate of quarterly decline is the highest since the start of statistics on a comparable basis since 1995. (MTI)