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- Eurozone GDP declined less than expected in Q1
Eurozone GDP declined less than expected in Q1
Аccording to an estimate published by Eurostat, in the first quarter of 2021, seasonally adjusted GDP decreased by 0.3% in the euro area and by 0.1% in the EU compared with the previous quarter. Economists had expected a 0.6% decrease in the euro area. These declines follow falls in the fourth quarter of 2020 (-0.6% in the euro area and -0.4% in the EU) after a strong rebound in the third quarter of 2020 (+12.6% in the euro area and +11.7% in the EU). Before, the sharpest decreases since the time series started in 1995 were observed in the second quarter of 2020 (-11.5% in the euro area and -11.1% in the EU).
Compared with the same quarter of the previous year, seasonally adjusted GDP decreased by 1.3% in the euro area and by 1.2% in the EU in the first quarter of 2021, after -4.7% and -4.4% respectively in the previous quarter.
During the first quarter of 2021, GDP in the United States increased by 1.6% compared with the previous quarter (after +1.1% in the fourth quarter of 2020). Compared with the same quarter of the previous year, GDP increased by 0.4% (after -2.4% in the previous quarter).
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