“In the third quarter of 2020, seasonally adjusted GDP increased by 12.5% in the euro area and by 11.5% in the EU compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the European Union.” – News Release from Eurostat
GDP
Sunak warns of ‘economic emergency’ as borrowing hits record £394bn (Financial Times)
“The government’s independent forecaster said the virus was responsible for an 11.3 per cent contraction in the UK economy, the steepest for more than 300 years. It added that output would take a further large hit if ministers fail to negotiate a free trade agreement with the EU before the end of the year.” – […]
Investors in Europe: 2020 Coronavirus Update
Investors in Europe: 2020 Coronavirus Update
Lockdowns across Europe have resulted in unprecedented economic damage over the first half of 2020. Eurozone GDP fell 12% in the 2nd quarter of 2020 following a 4% contraction in Q1.
When the novel Coronavirus (COVID-19) initially struck Wuhan, China in January 2020, most investors in Europe did not expect the disease to reach the continent. Yet here we are; a seemingly innocuous holiday stop in the French Alps by a Brit returning home from a conference in Singapore has morphed into a full-scale virus outbreak […]
Summer 2020 Economic Forecast: An even deeper recession with wider divergences (European Commission)
“The Summer 2020 Economic Forecast projects that the euro area economy will contract by 8.7% in 2020 and grow by 6.1% in 2021. The EU economy is forecast to contract by 8.3% in 2020 and grow by 5.8% in 2021. The contraction in 2020 is, therefore, projected to be significantly greater than the 7.7% projected for […]