Eurozone economy suffers record drop during lockdown months
Last updated 7/31/2020 at 3:38pm
JOHN LEICESTER and DAVID McHUGH
PARIS (AP) - The economy of the 19-country eurozone shrank by a devastating 12.1% in the April-June period from the quarter before - the largest drop on record - as coronavirus lockdowns shut businesses and hampered consumer spending.
Economists say the worst of the downturn is past as many restrictions have eased, but that the recovery will be drawn out and vulnerable to renewed virus outbreaks.
Spain, which along with Italy was among the first to get hit hard by the spread of the virus, suffered the region's heaviest drop at 18.5%. Franc...
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