EU GDP plummets 2.7 percent year-on-year in first quarter

EU GDP plummets 2.7 percent year-on-year in first quarter
  • Clock-gray 19:41
  • calendar-gray 30 April 2020

According to data published by Eurostat, the EU's GDP plummeted by 2.7 percent year-on-year in the first quarter of 2020, APA reports citing Sputnik.

"GDP down by 3.8% in the euro area and by 3.5% in the EU, -3.3 % and -2.7% respectively compared with the first quarter of 2019," Eurostat said in a statement.

 

Eurostat added that these were the sharpest declines observed since 1995.

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