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The Eurozone economy contracted 0.7% on quarter in the three months to December of 2020, beating -1.2% expected, the first estimate showed on Tuesday. 

On an annualized basis, the bloc’s GDP dropped by 5.1% in Q4 vs. -4.3% seen in Q3 2020 while beating -4.3% expectations.

more to come …

About Eurozone Preliminary GDP

The Gross Domestic Product released by Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).