GDP in the EU and the euro area fell by 11.9% and 12.1% respectively in the second quarter of 2020 compared to the previous quarter, according to figures published on Friday 31 July by the Statistical Office of the European Union (Eurostat).
The figures are all the more stunning when compared with those for the second quarter of 2019, showing a contraction in GDP of 15% for the euro area and 14.4% for the EU. “These are by far the largest declines observed since the start of the time series in 1995”, said Eurostat in its press release.
Of course, not all Member States are in the same boat. Unsurprisingly, Spain (-22.1% compared to 2019), France (-19%), and Italy (-17.3%) are the most affected, while Lithuania’s GDP only decreased by 3.7% compared to the same period of the previous year.
To access the statistics: https://bit.ly/39KmT4b (Original version in French by Pascal Hansens)