GDP down by 0.6% and employment up by 0.3% in the euro area

Reading Time: < 1 minute

In the fourth quarter of 2020, seasonally adjusted GDP decreased by 0.6% in the euro area and by 0.4% in the EU, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union.

These declines follow a strong rebound in the third quarter of 2020 (+12.4% in the euro area and +11.5% in the EU) and the sharpest decreases since the time series started in 1995 observed in the second quarter of 2020 (-11.7% in the euro area and ‑11.4% in the EU).

According to a first estimation of annual growth for 2020, based on seasonally and calendar adjusted quarterly data, GDP fell by 6.8% in the euro area and 6.4% in the EU.

%d bloggers like this: