The eurozone’s economy took an unprecedented hit due to coronavirus pandemic, with the bloc’s GDP contracting by 12.1% in the second quarter of 2020, EU officials said in preliminary estimates published on Friday.
Only 19 out of EU’s 27 member states use the euro as currency. The hit was slightly milder for European Union as a whole with a contraction of 11.9%.
Unprecedented consequences for all of Europe
The pandemic had the largest impact on Spain, the EU’s fourth-largest economy, which saw its GDP plunge by 18.5%. Read more
