Eurozone GDP dropped -3.8% in Q1, EU contracted -3.3%

Eurozone GDP contracted -3.8% qoq in Q1. EU GDP contracted -3.3% qoq. Both are worst declines since the series started in 1995. Annually Eurozone GDP contracted -3.2% yoy while EU GDP contracted -2.6% yoy, both were worst since Q3 2009.

Employment in dropped -0.2% qoq in both Eurozone and EU, worst declines since 2013.

Full release here.