GDP down by 0.6% in the euro area and by 0.4% in the EU

May 04, 2021

According to an estimate published by Eurostat, the statistical office of the European Union, for the first quarter of 2021 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 falls in the fourth quarter of 2020 (-0.7% in the euro area and -0.5% in the EU) after a strong rebound in the third quarter of 2020 (+12.5% in the euro area and +11.7% in the EU) and the sharpest decreases since the time series started in 1995 observed in the second quarter of 2020 (-11.6% in the euro area and -11.2% in the EU).”

Furthermore, at the end of the first quarter of 2021, the seasonally adjusted GDP decreased by 1.8% in the euro area and by 1.7% in the EU when compared to the same quarter in 2020, after -4.9% in the euro area and -4.6% in the EU in the previous quarter.

It was observed that, “among the Member States for which data are available for the first quarter 2021, Portugal (-3.3%) recorded the highest decrease compared to the previous quarter, followed by Latvia (-2.6%) and Germany (-1.7%), while Lithuania (+1.8%) and Sweden (+1.1%) recorded the highest increases. The year on year growth rates were negative for all countries except for France (+1.5%) and Lithuania (+1.0%).” as per Eurostat.



Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.

Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.