June 09, 2020
During the first quarter of 2020, GDP, seasonally adjusted, declined by 3.6% in the euro area and by 3.2% in the EU, according to the statistical office of the European Union (Eurostat). Notably, In March 2020, COVID-19 containment measures began to be widely introduced by Member States. In addition, in the fourth quarter of 2019, GDP rose by 0.1% in both the euro area and the EU.
In comparison with the same quarter of the previous year, seasonally adjusted GDP fell by 3.1% in the euro area and 2.6% in the EU in the first three months of 2020, after +1.0% and +1.2% respectively in the previous quarter.
There was a decrease in GDP in the United States by 1.3% during the first quarter of 2020 compared with the previous quarter, that is after 0.5% in the fourth quarter of 2019. Compared with the same quarter of the previous year, GDP increased by 0.3% (after +2.3% in the previous quarter).
GDP growth by Member State
Notably, for the first quarter of 2020, Ireland (+1.2%), Bulgaria and Romania (both +0.3%) and Sweden (+0.1%) experienced positive growth compared with the previous quarter. However, GDP decreased in all other EU Member states, the largest decreases observed in France and Italy (both -5.3%) and Spain and Slovakia (both -5.2%).
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.