Eurozone GDP Contracts At Record Pace Amid Covid-19 Pandemic

The euro area economy contracted at the fastest pace on record in the second quarter to enter a historic recession as all major economies in the bloc logged double-digit declines due to the restrictions imposed to curb the spread of the coronavirus. Gross domestic product fell 12.1 percent on a quarterly basis, bigger than the 3.6 percent drop in the first quarter, preliminary flash estimate publ