EU forecasts economic nightmare

The European Union is facing its worst ever recession with GDP projected to shrink by 7.4 percent this year. In 2009, following the global financial crisis, the EU economy shrank by 4.5 percent


Gross domestic product (% change on 2019, selected countries)

€11,812bn Euro area GDP (2019)
11.6% of world economy

-10 -8 -6 -4 -2 0
-9.7 GREECE
-9.5 ITALY
-9.4 SPAIN
-8.2 FRANCE
-7.9 IRELAND
-6.8 NETHERLANDS
-6.8 PORTUGAL
-6.5 GERMANY
-6.3 FINLAND
-5.5 AUSTRIA
-7.7 EURO AREA
-7.4 EU-27
-8.3 UNITED KINGDOM
-6.5 UNITED STATES
-5.0 JAPAN


Source: European Commission, European Economic Forecast May 2020 
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