Preliminary Flash GDP (Q1 2020).......>

EUROZONE DATA: Preliminary Flash GDP (Q1 2020)

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- EZ Q1 prelim flash GDP -3.8% Q/Q SA, -3.3% Y/Y WDA; Q4 GDP +0.1%Q/Q, +1.0%Y/Y 

- The EZ economy contracted by 3.8% in Q1, falling short of markets projected a

downtick by 3.5% 

- These were sharpest quarterly declines since records began in 1995, while the

annual rate was the lowest since Q3 2009 (-4.5%) 

- Already released state level data paints a downbeat picture: 

- The French economy declined by 5.8%, the Spanish plummeted by 5.2%, while

Belgium GDP shrank by 3.9% and the Austrian economy contracted by 2.5% on the

quarter. 

- Several statistical offices noted that March's dataset is still incomplete

which will likely result in revisions for the final print.