The economy in the Euro-zone has crashed in the second quarter due to the Corona pandemic. The gross domestic product fell from April to June to 12.1 percent quarter-on-quarter, as the statistics office Eurostat announced on Friday, and thus an estimate of the end of July confirmed. This is the sharpest decline since the statistics began in 1995. The measures to contain the pandemic had placed in front of all, in April, large parts of the economy Lahm: shops, Hotels and Restaurants had to be close, factories close, events.
All Euro area countries reported a decline in their economic performance, although to a different extent. Germany came in with a decline of 10.1 percent, still relatively unscathed, as well as the Netherlands with a minus 8.5 percent. In contrast, Italy reported a drop of 12.4%, France by 13.8 percent and Spain by 18.5 percent.
For the summer quarter, most experts expect because of the loose Corona-restrictions with a return to growth.Finally, the signals for an economic recovery increased.The uncertainty remains but in the face of increasing infection numbers high. Further restrictions on the economic activity in some of the countries feared to be.
The recession on the labour market. The number of employed persons in the Eurozone fell in the second quarter to 2.8 per cent for the first quarter of the year. Also this was the strongest decline since 1995.
Date Of Update: 14 August 2020, 14:19
