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Italy and France drag eurozone down as economists predict little relief under current coronavirus restrictions 2 February 2021 • 4:06pm The eurozone economy is on the brink of a double-dip recession but the region showed signs of adapting to life under lockdown after a record annual fall in output. The return of tough Covid restrictions across the eurozone pulled GDP down 0.7pc quarter-on-quarter at the end of 2020, a setback after record growth enjoyed in the summer.  The fourth quarter hit was far smaller than the slump suffered during the first Covid wave but another contraction ensured...

EUR/AUD Exchange Rate Rises as Eurozone GDP Data Suffers in Fourth Quarter The Euro to Australian Dollar exchange rate rose by 0.2% today, with the pairing currently fluctuating around AU$1.58. The EUR/AUD exchange rate edged higher today despite news that Europe’s slower Covid-19 vaccine rollout could result in a slower recovery for the Eurozone’s economy. Sam Miley, economist at the Centre Economics and Business Research, explains: ‘This downward pressure on economic output looks set to continue in early 2021 due to the clampdown on new, more virulent strains of coronavirus, while sub...

Eurozone meltdown: Record slump sparks panic as France and Italy hit by huge blow Ciaran McGrath Replay Video UP NEXT And separate figures have indicated the total unemployment rate within the 19 countries which are members of the monetary union remains at 8.3 percent. The figures, published by Eurostat, which provides statistical information to the institutions of the European Union, reveals the eurozone economy suffered a 0.7 percent GDP contraction in the final quarter (Q4) of 2020. Factoring in the record quarterly contraction of 11.7 percent in Q2 and the strong 12.4 per...