8 C
New York
8.1 C
London
35.4 C
Dubai
14.8 C
Tokyo
Monday, April 12, 2021

Eurozone will post a decline in fourth-quarter GDP

The eurozone economy contracted again at the end of the year amid the pandemic lockdowns, Eurostat’s initial estimates showed on Tuesday.

- Advertisement -

The EU’s statistics agency said that GDP fell by 0.7% in the fourth quarter, while on an annualised basis, the economy shrank by 5.1%.

Analysts expected a 1.0% quarterly fall and a 5.4% annual contraction after a sharp rebound in the third quarter period when the euro zone eased restrictions on travel.

Following a revision of data for Q3, Eurostat said eurozone GDP expanded 12.4% in the period, compared with a first estimate of 12.7% growth.

Tuesday’s data showed that France registered a 1.3% decline, Spain registered a 0.4% GDP increase and Germany grew 0.1% in the last quarter of 2020. Italian GDP declined 2.0% during the fourth quarter.

On Monday, Eurostat said that the currency area’s unemployment rate remained unchanged at 8.3% in December.

- Advertisement -

(Except for the headline, this story has not been edited by WCT staff and is published from a syndicated feed.)

Powered by the Echo RSS Plugin by CodeRevolution.

Related Articles

Putin critic Navalny ‘threatened with being force fed’ during prison hunger strike

By Euronews  •  Updated: 12/04/2021 ...

When will Britons be able to travel to Spain without having to quarantine on return?

You will be connected to www.thelocal.es in just a moment...Learn about Project Shield (Except for the headline, this story has not been edited by...

China’s embassy in Sweden under fire over ‘threats’ to journalist

Sweden's Foreign Minister Ann Linde called the Chinese embassy's email to a journalist "completely unacceptable" ...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Click to Subscribe!

7,698FansLike
5,572FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

Putin critic Navalny ‘threatened with being force fed’ during prison hunger strike

By Euronews  •  Updated: 12/04/2021 ...

When will Britons be able to travel to Spain without having to quarantine on return?

You will be connected to www.thelocal.es in just a moment...Learn about Project Shield (Except for the headline, this story has not been edited by...

China’s embassy in Sweden under fire over ‘threats’ to journalist

Sweden's Foreign Minister Ann Linde called the Chinese embassy's email to a journalist "completely unacceptable" ...

Protesters angry over US police shooting of Black man forcefully dispersed

Protesters gather outside the Brooklyn Center Police Department in response to the police killing of Daunte Wright, a 20 year old black man stopped...

Von der Leyen, Michel to discuss Turkey visit with Parliament leaders

European Commission President Ursula von der Leyen and European Council President Charles Michel will meet with European Parliament leaders on Tuesday to discuss their...