Euro zone gross domestic product fell less than initially estimated in the last quarter of 2020 and employment edged higher against the previous three months despite pandemic lockdowns, new estimates showed on Tuesday.
The European Union’s statistics office Eurostat said GDP in the 19 countries sharing the euro contracted 0.6 per cent quarter-on-quarter in the October-December period, for a 5-per-cent year-on-year fall. Eurostat earlier estimated the contraction was 0.7 per cent on the quarter and 5.1 per cent in annual terms.
Eurostat also said that employment grew 0.3 per cent on the quarter in the last three months of 2020 after a 1-per-cent quarterly rise in the previous three months, but was still 2 per cent lower than in the same period a year earlier.
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