The Euro Area economy shrank 0.7 percent on quarter in the last three months of 2020, slightly less than forecasts of a 1 percent plunge, and following a downwardly revised 12.4 percent record growth in the previous period.
The contraction was due to COVID-19 containment measures, preliminary estimates showed. Among the bloc’s biggest economies, Italy contracted 2 percent and France 1.3 percent while Germany (0.1 percent) and Spain (0.4 percent) managed to avoid the contraction.
However, the outlook for the first quarter of this year is not bright as many countries reinforced restrictions and imposed lockdowns aiming to stop the spread of the pandemic.
Follow us on:
Edo Governor Okpebholo has formed a 14-member committee to investigate assets and liabilities under Godwin…
A gunman was killed, and three Jordanian policemen were injured in a shooting near the…
EXCERPT: Putin has signed a new law forgiving up to 10 million roubles debts of…
An alleged assassination threat by Philippines VP Sara Duterte against President Marcos has triggers investigation,…
Developed nations, at COP29, have pledged a record $300bn for climate change prevention in poorer…
Defence Minister Badaru Abubakar has reaffirmed President Tinubu's commitment to restoring peace and stability in…