February 19, 2020
According to an estimate published by Eurostat, the statistical office of the European Union, for the fourth quarter of 2020 seasonally adjusted GDP for the euro area decreased by 0.6% and by 0.4% in the EU, when compared with the previous period. It was noted, “These declines follow a strong rebound in the third quarter of 2020 (+12.4% in the euro area and +11.5% in the EU) and the sharpest decreases since the time series started in 1995 observed in the second quarter of 2020 (-11.7% in the euro area and -11.4% in the EU).)”
Furthermore, in the fourth quarter of 2020, the seasonally adjusted GDP decreased by 5.0% in the euro area and by 4.8% in the EU when compared to the same quarter in 2019, after -4.3% in the euro area and -4.2% in the EU in the previous quarter. It was noted, the GDP of the united states went up by 1%, when compared to the previous quarter and when compare to the same quarter in 2029, GDP declined by 2.5%.
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