In the second quarter of 2020, seasonally adjusted GDP decreased by 11.8% in the euro area and by 11.4% in the European Union compared to the previous quarter, according to the latest estimates released by the statistical office of the European Union, Eurostat, on Tuesday 8 September.
“These were by far the sharpest declines observed since the time series started in 1995”, Eurostat recalls in a news release. During the first quarter of 2020, GDP declined by 3.7% in the euro area and by...