Eurozone Preliminary GDP contracts by 0.6% QoQ in Q4 vs. -0.7% expected

The Eurozone economy contracted 0.6% on quarter in the three months to December of 2020, beating -0.7% expected, the second estimate showed on Tuesday. 

On an annualized basis, the bloc’s GDP dropped by -5.0% in Q4 vs. -5.1% seen in the first readout while beating -5.1% expectations.

more to come ....

About Eurozone Preliminary GDP

The Gross Domestic Product released by Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).