After showing some signs of recovery, the euro area economy shrank again in the final quarter of 2020 as governments imposed fresh restrictions to contain the coronavirus outbreak.
Gross domestic product (GDP) in the 19 eurozone countries contracted by 0.7 percent in the last three months of last year, while the EU’s GDP fell by 0.5 percent, according to preliminary Eurostat data published on Tuesday. This is compared to a GDP growth of 12.4 percent in the previous quarter, when the European economies started to reopen before the coronavirus pandemic got worse again.
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