Latest data released by Eurostat - 30 April 2020
- Prior (Q4) +0.1%
- GDP -3.3% vs -3.4% y/y expected
- Prior (Q4) +1.0%
The economic contraction matches estimates as the euro area economy stumble in the first quarter of the year, amid the virus outbreak and lockdown measures enacted by countries in the region to try and curb the spread.
The quarterly drop is a record, exacerbated by record contractions in other economies as well as seen with the reports from France and Spain earlier in the day.
