Record Contraction in Eurozone Bodes Ill for Global Economy

Elvera Bartels

The public-health and fitness crisis sparked by the new coronavirus ricocheted by means of Europe’s financial state in the first quarter, producing a file drop that was much more extreme even than in the U.S., an ominous indicator for the world financial state.

The eurozone’s gross domestic item fell 3.8% as opposed to the ultimate a few months of 2019, in accordance to details introduced Thursday, as measures imposed to limit the pandemic’s distribute stalled anything from educational institutions to factories to churches.

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