ECONOMY - FINANCE - BUSINESS / Economy

6.6% fall in GDP means 2020 recession was slightly less severe than expected in eurozone

Brussels, 09/03/2021 (Agence Europe)

According to an estimate published by the EU’s Statistical Office (Eurostat) on Tuesday 9 March, GDP fell by 6.6% in the euro area and by 6.2% in the European Union in 2020, having increased by 1.3% and 1.6% respectively in 2019. The data is slightly lower to an estimate provided in mid-February that predicted falls of 6.8% in the euro area and 6.4% in the EU (see EUROPE B12659A4).

Compared to the previous quarter, seasonally adjusted GDP decreased by 0.7% in the euro area and by 0.5% in...