EU slashes growth forecasts
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The eurozone economy is forecast to contract by 8.7% in 2020 – a steeper drop than the 7.7% previously forecast – before gross domestic product bounces back in 2021
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GDP (% change on 2019, selected countries) 
Bounce back (%, 2021) 

-12 -10 -8 -6 -4 -2 0

6.1 7.1 7.6 6.0 6.0 7.4 6.5 6.3 5.3 5.6 4.6 5.3 6.1 5.8 6.0
   
-11.2 ITALY
-10.9 SPAIN
-10.6 FRANCE
-9.8 PORTUGAL
-9.0 GREECE
-9.0 SLOVAKIA
-8.8 BELGIUM
-8.5 IRELAND
-7.7 CYPRUS
-7.1 AUSTRIA
-6.8 NETHERLANDS
-6.3 GERMANY
-8.7 EURO AREA
-8.3 EU
-9.7 UNITED KINGDOM

€13,336bn Euro area GDP (2019) 15.2% of world economy 

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Sources: European Commission, European Economic Forecast, World Bank © GRAPHIC NEWS