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European economy suffers biggest hit on record amid pandemic

Eu pandemic economy Government crisis
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FRANKFURT – The European economy shrank by 3.8% in the first quarter, the most since records began, as business activity was frozen by shutdowns aimed at preventing the spread of the coronavirus.

It was the biggest drop since statistics started in 1995 and bigger than the plunge in the midst of the global financial crisis in the first quarter of 2009 after the bankruptcy of U.S.

investment bank Lehman Brothers. Unemployment, however, rose only slightly even amid the massive shutdowns that idled everything from florists to restaurants to factories.

The February jobless figure from European Union statistics agency Eurostat rose to 7.4% in March from 7.3% in February. Millions of workers are being supported by temporary short-hours programs

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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