- GDP in the euro area contracted by -4.9% in 2020.
- EUR / USD is holding on to its strong daily gains above the 1.1900 level.
The gross domestic product GDP of the euro zone contracted by -4.9% annually in the fourth quarter, as data published by Eurostat showed on Tuesday. This reading has been slightly better than preliminary estimate and market expectation of -5%. On a quarterly basis, GDP declined by -0.7%.
Other euro area data revealed that the change in employment in the fourth quarter was + 0.3%, as previously estimated.
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