Eurozone economy shrinks 3.8% as virus measures bite

Telegram från AFP / Omni
30 April 2020, 11.05

The eurozone economy shrank by 3.8 percent in the first quarter of the year as coronavirus lockdown measures began to bite, official data showed Thursday.

Across the EU, gross domestic product contracted by 3.5 percent in the first major indication of the economic devastation facing the bloc as a result of the pandemic.

The European single currency area also saw a slowdown in inflation to 0.4 percent in April, driven by a collapse in energy prices.

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