Eurozone enters double-dip recession in Q1 : vimarsana.com

Eurozone enters double-dip recession in Q1
© FamagustaGazette 2021
The eurozone economy shrunk by 0.6 percent in the first three months of this year, following a 0.7-percent contraction in the fourth quarter of 2020, Eurostat, the statistical office of the European Union (EU), said on Friday. According to Eurostat’s preliminary flash estimate, the EU’s gross domestic product (GDP) decreased by 0.4 percent, following a 0.5-percent fall in the previous quarter. The negative growth for two consecutive quarters means that the 19 EU member states that use the single currency are technically in a recession, despite the...

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