GDP
GDP growth in the euro area and EU: Seasonally adjusted GDP decreased by 3.6% in the euro area and by 3.2% in the EU during the first quarter of 2020, compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the European Union. These were the sharpest declines observed since time series started in 1995. In March 2020, the final month of the period covered, COVID-19 containment measures began to be widely introduced by Member States. In the fourth quarter of 2019, GDP had grown by 0.1% in both the euro area and the EU.
Employment
The number of persons employed decreased by 0.2% in the euro area and by 0.1% in the EU in the first quarter of 2020 compared with the previous quarter. This is the first decline in the time series since the second quarter of 2013 for the euro area and the first quarter of 2013 for the EU. In the fourth quarter of 2019, employment increased by 0.3% in the euro area and by 0.2% in the EU
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