Eurozone Economy Contracts by Record 40%

FRANKFURT—Stringent lockdowns weighed greatly on Europe’s economic system in the second quarter, causing a report

FRANKFURT—Stringent lockdowns weighed greatly on Europe’s economic system in the second quarter, causing a report decline that was even far more critical than in the U.S., but the continent’s system of containment coupled with aggressive stimulus is fanning hopes of a strong restoration.

The eurozone’s gross domestic solution fell forty.three% yearly in the a few months by June, exceeding the U.S. economy’s 32.nine% contraction, in accordance to facts printed Friday. That is by considerably the sharpest decline since equivalent data commenced in 1995, in accordance…