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Eurozone economy shrinks at record rate

Byindianadmin

Apr 30, 2020
Eurozone economy shrinks at record rate

A pharmacist in France puts up a sign reading 'protective facemasks are available' Image copyright
Getty Images

Image caption

A pharmacist in France puts up an indication reading ‘protective facemasks are offered’.

The eurozone economy shrank at the sharpest rate on record in the first quarter as the Covid-19 pandemic forced countries into lockdown.

A very first quote of GDP in between January and March revealed a contraction of 3.8%, worse than during the financial crisis.

Separate figures exposed a high fall in economic activity in France and Spain over the exact same duration.

In Germany, unemployment has increased though it remains reasonably low compared to other nations.

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