Covid-19
Euro zone economy shrinks further due to Coronavirus

The economy of the euro zone countries continues to shrink to a record recession due to restrictions and fear caused by the coronavirus pandemic. Spain is facing its worst recession in modern times with the economy decreasing by 18.5% between April and June, after its 5.2% decrease during the previous three months.

France is also being affected by the pandemic with its Gross Domestic Product decreasing by 13.8% between April and June, with April as the worst hit following a recovery period in May and June when coronavirus restrictions were eased.

Italy also faced a 12.4% decrease of its economy, while economists had predicted a far greater blow for the country’s economy.

It is estimated that the European economy suffered a decrease of almost 12%.

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