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4/30, 11:00 AM (Source: TeleTrader)
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Eurozone GDP down 0.6% in Q1

Gross domestic product in the Eurozone slipped by less-than-expected 0.6% in the first quarter of 2021 compared to the previous trimester, Eurostat said in its preliminary report published on Friday. The GDP for the whole European Union fell by 0.4%.

Portugal recorded the highest GDP decline among EU member states, followed by Latvia and Germany. On the other hand, Lithuania and Sweden registered the highest GDP increases.

GDP in the euro area declined by 1.8% and in the EU 1.7% on a yearly basis, with France and Lithuania being the only countries to record positive figures. The Eurozone plunged into a double-dip recession with the latest update as coronavirus-related restrictions continued to negatively affect economic activities.

Breaking the News / ND