EU's GDP Experiences Sharpest Decline Since 1995 In 2020 Q2 - Eurostat

EU's GDP Experiences Sharpest Decline Since 1995 in 2020 Q2 - Eurostat

The European Union's GDP saw a 14.4 percent year-on-year decrease in the second quarter of the year, which is the sharpest decline since 1995, Eurostat said on Friday

MOSCOW (Pakistan Point News / Sputnik - 31st July, 2020) The European Union's GDP saw a 14.4 percent year-on-year decrease in the second quarter of the year, which is the sharpest decline since 1995, Eurostat said on Friday.

"Compared with the same quarter of the previous year, seasonally adjusted GDP decreased by 15.0% in the euro area and by 14.4% in the EU in the second quarter of 2020, after -3.1% and -2.5% respectively in the previous quarter. These were also by far the sharpest declines since time series started in 1995," Eurostat said in its news release.