The euro zone’s economic output showed its sharpest quarterly decline since 1995. Photo: Picture Alliance / Uli Deck / DPA

Coronavirus: European economy shrinks at record rate in first quarter due to pandemic impact

  • Euro zone GDP contracts 3.3 per cent from a year earlier, while EU economy shrinks 2.7 per cent, both the largest drops on record
  • Sharp first quarter decline likely to increase calls for EU to agree on fiscal package to boost growth
Topic |   China economy
The euro zone’s economic output showed its sharpest quarterly decline since 1995. Photo: Picture Alliance / Uli Deck / DPA
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