Eurozone GDP revised upward to an annual rate of minus 39.4% in April-June

Eurozone GDP revised upward to an annual rate of minus 39.4% in April-June September 9 at 6:23 a.m.

For 19 eurozone countries such as Germany and France, GDP from April to June was revised upward to minus 39.4% in terms of annualized growth compared to the previous three months, reflecting the latest statistics.
The EU-European Union’s statistics office today announced the results of a revision of GDP in the euro area from April to June, based on the latest statistics.

As a result, the real growth rate compared to the previous three months was minus 11.8%.

When this was converted to an annual rate, it was minus 39.4%, which was revised upward.

However, the spread of the new coronavirus has taken a more severe blow to economic activity, making it the worst level since 1995, when statistics began.

In addition, although there is a wider view in the euro area that economic activity has resumed and the worst period has come off, the spread of infection is likely to spread again, and it remains unclear when the economy will recover.