[Ticker] EU economy contracts by 3.5 percent in first quarter

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The eurozone economy contracted by 3.8 percent in the first quarter of 2020, compared to the last three months of 2019. The EU gross national product decreased by 3.5 percent, due to the coronavirus pandemic, the EU's statistical office said. These were the sharpest declines since Eurostat started this series of records in 1995. In March, the eurozone unemployment rate was 7.4 percent, up from 7.3 percent in February.

EUobserver

The eurozone economy contracted by 3.8 percent in the first quarter of 2020, compared to the last three months of 2019. The EU gross national product decreased by 3.5 percent, due to the coronavirus pandemic, the EU's statistical office said. These were the sharpest declines since Eurostat started this series of records in 1995. In March, the eurozone unemployment rate was 7.4 percent, up from 7.3 percent in February.


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