Eurozone Preliminary GDP Contracts by 0.6% QoQ in Q4

The Eurozone economy contracted 0.6% on quarter in the three months to December of 2020, beating -0.7% expected, the second estimate showed on Tuesday.

On an annualized basis, the bloc’s GDP dropped by -5.0% in Q4 vs. -5.1% seen in the first readout while beating -5.1% expectations.