GDP contracted -12.1% in Eurozone in Q2, -11.7% qoq in EU. Both were sharpest declines since the series began in 1995. Annually, GDP contracted -15.0% yoy in Eurozone, -14.1% in EU, also worst on record. Employment in Eurozone dropped record -2.8% qoq, and -2.6% in EU.
Also released, Eurozone trade surplus widened to EUR 17.1B in June, up from EUR 8.0B, but smaller than expectation of EUR 18.0B.