Eurozone faces deep economic crisis after its worst quarter ever ...United Arab Emirates

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Eurozone faces deep economic crisis after its worst quarter ever
The euro area is suffering its worst contraction ever as data published on Thursday showed that the region’s gross domestic product (GDP) shrank by 3.5 percent in the first quarter of 2020 versus the final quarter of last year. Economic output in the 19 countries that use the euro sank by 3.8 percent in the January to March period. “These were the sharpest declines observed since [the] time series started in 1995,” the EU statistics (Eurostat) office said. The fall is expected to deepen in the second quarter as much of the region has been in coronavirus lockdown for the whole of April.  Euro area #GDP -3.8% in Q1 2020, -3.

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