Final GDP (Q1 2020)...................>

EUROZONE DATA: Final GDP (Q1 2020)

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- Final GDP (Q1): -3.6% q/q, -3.1% y/y; Prev (Q4): +0.1% q/q, +1.0% y/y 

- EZ growth came in slightly stronger than reported by the flash estimate,

recording a contraction by -3.8% q/q and -3.2% y/y 

- Every category showed a quarterly decline in Q1, while government consumption

and gross fixed capital formation revealed an annual gain. 

- The breakdown shows that household consumption, which fell by 4.7%, shaved off

2.5pp of Q1 growth, showing the largest downward contribution. 

- Gross fixed capital formation slipped to -4.3% in Q1 after Q4's 5.0%

- Exports dropped by 4.2% q/q, while imports slumped by 3.6%, resulting in a

negative contribution to growth from net trade, subtracting 0.4pp from GDP. 

- Government consumption showed the smallest decrease, falling by 0.4% and

deducting 0.1pp from growth. 

- Q1 showed the sharpest decline since the series began in 1995, however Q2 is

expected to fall even further due to the Covid-19 crisis.