Latest data released by Eurostast – 9 March 2021
- Q4 GDP -4.9% vs -5.0% y/y second estimate
The second estimate report can be found here. Looking at the details, household consumption fell by 3% q/q after the revised 14.1% q/q jump in Q3 while government expenditure expanded by another 0.4% q/q after the revised 4.6% q/q jump in Q3 last year.
The data doesn’t really do much but reaffirm a potential double-dip recession in the Eurozone as Q1 economic conditions may also present a contraction.
That said, the focus of the market remains more geared towards the 2H 2021 outlook.