A flash estimate published by Eurostat suggests that the EU’s gross domestic product fell by 6.4% in 2020, with the decline, unsurprisingly, primarily attributed to the Covid-19 pandemic.
The euro area’s GDP, meanwhile, contracted by 6.8%.
Eurostat qualified the figures, highlighting that the flash estimates – which seek to provide an indication as soon as possible – were based on incomplete data sources and subject to further revisions. The next estimates for the fourth quarter of 2020 are set to be released in two weeks.
Read more at:
https://newsbook.com.mt/en/eu-economy-shrank-by-nearly-6-4-in-2020-estimates/
