Europe's recession deepened in the first quarter but the recovery is underway
CNN
Europe fell deeper into recession in the first three months of the year, but the region's economy is already turning a corner and looks set to bounce back as coronavirus restrictions ease.
EU GDP contracted by 0.4% between January and March, compared with the previous quarter, statistics agency Eurostat said in a statement on Friday. The economy shrank 1.7% when compared with the same quarter in 2020. The decline follows a contraction in the fourth quarter of last year, when governments reimposed lockdowns to respond to spikes in coronavirus cases and deaths. Many restrictions remained in place during the early months of 2021, weighing on the economy.
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