Eurozone economy shrank 3.8% in Q1
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Seasonally adjusted Gross Domestic Product (GDP) fell by 3.8 percent q/q in the euro area and by 3.5 percent throughout the European Union in Q1 2020, according to preliminary data from the Eurostat statistical office.
The market consensus for the euro area was 3.5 percent on a quarterly basis.
In annual terms, seasonally adjusted GDP fell in Q1 this year by 3.3 percent in the euro area and by 2.7 percent throughout the EU. Market consensus for the euro area was a 3.5 percent decline in this respect.
