GDP down by 3.8% and employment down by 0.2% in the euro area

GDP growth in the euro area and EU: Seasonally adjusted GDP decreased by 3.8% in the euro area and by 3.3% in the EU during the first quarter of 2020, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. These were the sharpest declines observed since time series started in 1995. In March 2020, the final month of the period covered, COVID-19 containment measures began to be widely introduced by Member States. In the fourth quarter of 2019, GDP had grown by 0.1% in the euro area and by 0.2% in the EU.

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