Enervated Europe
02/02/2021 |
Eurozone GDP fell 0.7% in 20Q4. While less severe than the contraction in spring 2020, this means eurozone GDP is 5.1% smaller than a year ago, compared to US GDP which is down just 2.5% compared to 19Q4. Worse, while US GDP is expected to grow in 21Q1, albeit feebly, eurozone GDP is expected to continue declining in 21Q1, meaning a double-dip recession. So much for any economic help from Brussels.