The euro area economy contracted less than initially estimated in the second quarter but the pace of decline was the most since the records began in 1995 due to the coronavirus containment measures adopted by the member countries, revised data from Eurostat revealed Tuesday.
Gross domestic product fell by a record 11.8 percent sequentially but this was revised down from -12.1 percent estimated initially. GDP had contracted 3.7 percent in the first quarter.
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