Business • Economy

Eurozone economy shrinks 3.8% in first quarter

Eurozone economy shrinks 3.8% in first quarter
The Hemicycle of the European Parliament in Strasbourg during a plenary session in 2014. Credit: Diliff (Creative Commons Attribution ShareAlike 4.0)

The eurozone’s gross domestic product fell 3.8% versus the final three months of 2019, according to data released Thursday, as measures imposed to limit the Covid-19 pandemic’s spread stalled everything from schools to factories to churches.

Separate figures revealed a steep fall in economic activity in France (5.8%) and Spain (5.1%) over the same period.

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