Carvoeiro in the slump of lockdown

Portugal’s GDP shows ‘greatest fall in Europe’

According to “a rapid estimate” by Eurostat, Portugal’s GDP has shown the greatest fall in Europe during the first three months of this year.

Dropping by 5.4%, it is more than three times the ‘shrinkage’ demonstrated by the bloc in general, as well as within the eurozone.

Says the European statistics institute today, the economy of the eurozone fell by 1.8%, while that of the European Union shrank by 1.7% between January and end-March.

Conversely, Romania, Bulgaria and Cyprus all saw their economies grow (by 2.8%, 2.5% and 2.0% respectively).