Euro Zone Fourth-Quarter GDP Falls Less Than Expected, Another Fall Seen In First Quarter

The European Union’s statistics office Eurostat said that according to its preliminary flash estimate, gross domestic product in the 19 countries sharing the euro fell by 0.7% quarter-on-quarter, for a 5.1% year-on-year decline.

Economists polled by Reuters had expected a 1.0% quarterly fall and a 5.4% annual contraction after a sharp rebound in the July-September period when the euro zone eased restrictions on travel and leisure after a first wave of COVID-19 cases

-Reuters