7/31, 11:00 AM (Source: TeleTrader)
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Euro area GDP plunges 12.1% in Q2

The seasonally adjusted gross domestic product (GDP) in the euro area dropped by 12.1% in the second quarter of 2020 compared to the previous three months, according to a preliminary estimate released by Eurostat on Friday. In the whole European Union, GDP slid 11.9%.

Annually, the seasonally adjusted GDP tumbled 15% in the Eurozone, while the figure was down 14.4% in the EU compared to the same period in 2019.

Among member states, the largest GDP drop was observed in Spain, whose economy shrank 18.5%, while Lithuania recorded the lowest decline as its GDP fell 5.1%.

Breaking the News / NP