According to the preliminary flash estimate published by the statistical office of the European Union (Eurostat) on Tuesday 2 February, seasonally adjusted GDP in the fourth quarter of 2020 fell by 0.7% in the euro area and by 0.5% in the European Union, compared to the previous quarter.
The declines follow the strong recovery in the third quarter (+12.4% for GDP in the euro area and +11.5% in the EU) and the largest falls since the time series began in 1995 in the second quarter of 2020...