In the fourth quarter 2020, seasonally adjusted GDP decreased by 0.7 percent in the euro area and by 0.5 percent in the European Union, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat. These declines, related to COVID-19 containment measures, follow a strong rebound in the third quarter of 2020 (+12.4 percent in the euro area and +11.5 percent in the European Union) and the sharpest decreases since time series started in 1995 observed in the second quarter of 2020 (-11.7 percent in the euro area and -11.4 percent in the EU). According to a first estimation of annual growth for 2020, based on seasonally and calendar adjusted quarterly data, GDP fell by 6.8 percent in the euro area and 6.4 percent in the European Union, informed Eurostat.
