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EU's economic outlook grimmer than previously thought
8 Views • Jul 07, 2020
Description
The EU economy is expected to experience a deeper recession this year than previously thought,... as the lifting of COVID-19 lockdown measures is proceeding at a slower pace than assumed in its Spring Forecast.
According to the Summer 2020 Economic Forecast released on Tuesday,... the EU economy will contract 8-point-7 percent in 2020,... and grow by 6-point-1 percent in 2021.
The contraction is significantly greater than the 7-point-4 percent projected in the previous forecast.
Experts cite the far longer period of disruption and lockdown taking place in the second quarter of 2020.
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