‘Historic’: Markets Marvel At Scope Of Europe’s Record Collapse On GDP Day

‘Historic’: Markets Marvel At Scope Of Europe’s Record Collapse On GDP Day

"Uniformly awful". That is the consensus assessment when it comes to GDP data out of Europe, where the economy shrank the most on record in Q1 amid strict lockdown protocols aimed at stopping the spread of COVID-19. For the eurozone, output shrank 3.8%, the largest contraction since the inception of the single currency. That was actually in line with consensus and it goes without saying that the second quarter is going to be extremely dicey too, given that the lockdowns weren't put in place
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