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Latest News

Euro-Area Economy Shrank Less Than Forecast at End of 2020

02 Feb 2021

Euro-Area Economy Shrank Less Than Forecast at End of 2020

 

The euro-area economy shrank less than expected at the end of last year, though it remains on the verge of a double-dip recession amid a slow rollout of coronavirus vaccines.

 

Gross domestic product declined 0.7% in the fourth quarter, compared with estimates for a 0.9% drop. Germany and Spain both posted surprise economic expansions in reports last week. Italy reported a contraction of 2% earlier on Tuesday.

 

Euro-area output fell 6.8% in 2020 as a whole.

 

(Source: Bloomberg)