BUSINESS

COVID HAMMERS EU ECONOMY

BRUSSELS: The EU economy shrank by 3.5% in the first quarter, official data showed Thursday, the first major indication of the devastation facing the bloc as a result of coronavirus.

As lockdown measures imposed from March began to bite, the eurozone suffered an even bigger contraction — of 3.8% — in the first three months of the year, the EU’s official statistics agency Eurostat said.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button