Minus 12 and minus 19 percent in Italy and Spain, the economy is shrinking significantly

In Italy, broke the economy because of the Corona-crisis in the months of April to June, as strong as for the last 25 years. The economic setback but was slight

Minus 12 and minus 19 percent in Italy and Spain, the economy is shrinking significantly

In Italy, broke the economy because of the Corona-crisis in the months of April to June, as strong as for the last 25 years. The economic setback but was slightly weaker than feared.

In the second quarter, economic output shrank in the quarter-on-quarter to 12.4 percent, the national statistics Institute Istat in Rome on Friday after a first estimate of the gross domestic product (GDP) is announced. It is the strongest economic downturn since the beginning of this survey in 1995.

in the first quarter, the third largest economy in the Euro zone of the Corona-crisis had been hit. In the months of January to March, the Italian economy was in a declined performance in the quarter compared to a revised 5.4% (previously 5.3 per cent).

experts had expected for the second quarter, however, with a significantly larger setback and were expected to decline to 15.5 percent. Measures to curb Corona pandemic, especially in the second quarter.

dertour-ISM sector suffers until today

Meanwhile, Spain is by means of the Corona of a crisis in the deepest recession in its history, slipped. The gross domestic product (GDP) fell in the spring by 18.5 percent quarter-on-quarter, the National Bureau of statistics announced on Friday. The Minus is even greater than the expectation of the specialist leutevon 16.6 percent, after the economy had shrunk between Barcelona and Sevilla in the first quarter to 5.2 percent.

The previous year was in the spring of even a drop of 22.1 percent. The economy was before the outbreak of the pandemic over the years to be stable. But the home and contact restrictions to curb the Virus spread, let the economy crash. In particular, for Spain, very important tourism sector suffers today from the consequences of the pandemic.

Updated Date: 31 July 2020, 05:20

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