Euro area and EU gross domestic product declined on a historic scale in the second quarter

By: Trademagazin editor Date: 2020. 09. 09. 11:00

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Gross domestic product fell less than in the first estimate, but still the largest ever recorded, in the second quarter in both the euro area and the EU, according to a report by Eurostat, the European Union’s statistical office.

In the second quarter, gross domestic product (GDP) in the euro area declined by 11.8 percent quarter on quarter, according to Eurostat’s second estimate. Eurostat showed a decrease of 12.1 percent in its first estimate, but the slightest decrease in the second estimate is the largest decline since the beginning of the register in 1995. (MTI)