Eurozone GDP contracted -0.7% qoq in Q4, smaller than expectation of -1.8% qoq. Over the year, GDP contracted -6.8% yoy. EU GDP contracted -0.5% qoq. Over the year, EU GDP contracted -6.4% yoy.
Among the Member States, for which data are available for the Q4, Austria (-4.3%) recorded the highest decrease compared to the previous quarter, followed by Italy (-2.0%) and France (-1.3%) while Lithuania (+1.2%) and Latvia (+1.1%) recorded the highest increases. The year on year growth rates were still negative for all countries.