Seasonally adjusted GDP decreased by 12.1% in the euro area and by 11.7% in the European Union in the second quarter of 2020 compared to the previous quarter, according to flash estimates released by the Statistical Office of the European Union (Eurostat) on 14 August.
"These were by far the sharpest declines observed since time series started in 1995," the agency notes in its press release.
Among the twenty Member States for which data are available, the fall in quarterly GDP was most...