GDP declined in Q4 2020 (– 1.3%), marked by the second lockdown; over the year 2020, GDP declined by 8.3%.

In Q4 2020, GDP in volume terms fell back: –1.3% after +18.5% in Q3 2020. The loss of activity this quarter was marked by the lockdown in effect from the end of October to mid-December and by the curfews put in place during the months of October and December. Nevertheless, the total loss of activity was much more moderate than during the first lockdown in March-May 2020: in Q4 2020, GDP was 5.0% below its level a year earlier (year-on-year change), whereas the year-on-year decline was of 18.8% in the second quarter. Over the full year 2020, GDP fell sharply (–8.3%, after +1.5% in 2019). This first estimate of the … (full story)

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