According to the flash estimates released by Eurostat, the statistical office of the European Union, during the second quarter this year gross domestic product (GDP) decreased by 12.1 percent in the euro area and was down by 11.9 in the EU member states compared to the previous quarter. In the first quarter this year, GDP had decreased by 3.6 percent in the euro area and by 3.2 percent in the EU, on quarter-on-quarter basis.
Compared with the same quarter of 2019, in the second quarter of the current year seasonally adjusted GDP decreased by 15 percent in the euro area and by 14.4 percent in the EU member states, after respectively falling by 3.1 percent and 2.5 percent year on year in the previous quarter.