Eurozone Preliminary GDP shrinks by 0.7% QoQ in Q4

The Eurozone economy contracted 0.7% on quarter in the three months to December of 2020, beating -1.2% expected, the first estimate showed on Tuesday.

On an annualized basis, the bloc’s GDP dropped by 5.1% in Q4 vs. -4.3% seen in Q3 2020 while beating -4.3% expectations.