Eurozone GDP dropped -0.7% qoq in Q3, revised down from prior estimate of -0.5% qoq. For the year 2020 as a whole, GDP dropped -6.6%. EU GDP contracted -0.5% qoq in Q4. For 2020 as a whole, GDP shrank -6.2%.
GDP growth by Member State: Romania (+4.8%) and Malta (+3.8%) recorded the sharpest increases of GDP compared to the previous quarter, followed by Croatia and Greece (both +2.7%). The strongest declines were observed in Ireland (-5.1%) and Austria (-2.7%) , followed by Italy (-1.9%) and France (-1.4%).
