- European Central Bank: Euro area GDP could shrink by 5%-12% this year
Market news
1 May 2020
European Central Bank: Euro area GDP could shrink by 5%-12% this year
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Euro area real GDP could fall by around 5% (mild scenario), 8% (medium scenario), and 12% (severe scenario) this year
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Under the severe scenario, Q2 quarterly real GDP growth could be -15%, followed by a protracted and incomplete recovery; +6% in Q3, +3% in Q4
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Under the severe scenario, real GDP is expected to remain well below the level observed at the end of 2019 until the end of 2022
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