Eurozone economic system shrinks by report 12.1 % in second quarter

Eurozone economic system shrinks by report 12.1 % in second quarter

Italy reported a contraction of 12.four %, whereas the German economic system shrank by 10.1 %. The sharp contraction between April and June adopt

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Italy reported a contraction of 12.four %, whereas the German economic system shrank by 10.1 %.

The sharp contraction between April and June adopted a first-quarter lower of three.6 % within the eurozone and three.2 % throughout the EU.

Calling the figures “a preliminary flash estimate,” Eurostat stated the info was seasonally adjusted and mirrored the coronavirus containment measures adopted by most EU international locations within the spring. Findings are “primarily based on knowledge sources which might be incomplete and topic to additional revisions,” it stated.

In contrast with the second quarter of 2019, seasonally adjusted GDP decreased by 15 % within the eurozone and by 14.four % within the EU.

Eurostat stated it should publish new estimates for the second quarter on August 14.



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