BRUSSELS, Aug. 14 (Xinhua) -- The gross domestic product (GDP) in the second quarter of 2020 decreased by 11.7 percent in the European Union (EU) and by 12.1 percent in the euro area compared with the previous quarter, Eurostat said in its flash estimates on Friday.
The estimates said the figures were by far the sharpest declines observed since time series started in 1995. Eurostat attributed the downturn to the COVID-19 containment measures still in place in most EU member states.
In the first quarter of 2020, GDP had decreased by 3.2 percent in the EU and by 3.6 percent in the euro area.
When compared with the second quarter of 2019, the figures declined by 14.1 percent in the EU and by 15.0 percent in the euro area respectively.
Eurostat said the number of employed persons decreased by 2.6 percent in the EU and by 2.8 percent in the euro area in the second quarter, compared with the previous quarter. These were also the sharpest declines observed since 1995.
In the first quarter of 2020, employment had decreased by 0.1 percent in the EU and by 0.2 percent in the euro area. Enditem
