A nearly deserted shopping street is seen after the town’s mayor declared a state of emergency to stop the spread of the new coronavirus March 18, 2020 in Halle/Saale, eastern Germany. — AFP pic
As lockdown measures imposed from March began to bite, the eurozone suffered an even bigger contraction — of 3.8 per cent — in the first three months of the year, the EU’s official statistics agency Eurostat said. Eurostat said it was the sharpest quarter-on-quarter drop in gross domestic product since it began compiling the figures in 1995.
There was more bad news on the inflation front, with consumer prices rising by just 0.4 per cent in April compared with 0.7 per cent the previous month, driven by the collapse in energy prices.
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