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.