Home / Market Update / Eurozone’s Economy Expected to Contract by 2.3% in Q4

Eurozone’s Economy Expected to Contract by 2.3% in Q4

The Eurozone gross domestic product (GDP) is expected to shrink by 2.3% during the fourth quarter (Q4) of 2020, according to recent forecasts by Goldman Sachs.

The bank has lowered its expectations for the European bloc, after it previously estimated a contraction of 2.2%.

Meanwhile, Q1 of 2021 is expected to see recovery with a 0.5% growth rate.

Check Also

PPI Shadowed: GBP/USD Wobbles Amid GDP Shock and Surging US Inflation Fears

The Pound Sterling (GBP) faced renewed pressure against the US Dollar (USD) this week, with …