Support 100 years of independent journalism.

  1. Science & Tech
  2. Coronavirus
24 April 2020updated 06 Oct 2020 9:45am

EU on course for 7.5 per cent recession, top official says

By Samuel Horti

European Union nations are heading for an economic contraction of between 5 and 10 per cent, and a second peak of coronavirus could lead to further losses, EU Industry Commissioner Thierry Breton said this morning. 

“As of today, in the European Union, we’re on course for a 5 per cent to 10 per cent [contraction], meaning it’s about 7.5%. But that is today, and if things don’t improve and if we have a second peak, things could get worse.”

Sign up for The New Statesman’s newsletters Tick the boxes of the newsletters you would like to receive. Quick and essential guide to domestic and global politics from the New Statesman's politics team. The New Statesman’s global affairs newsletter, every Monday and Friday. The best of the New Statesman, delivered to your inbox every weekday morning. A handy, three-minute glance at the week ahead in companies, markets, regulation and investment, landing in your inbox every Monday morning. Our weekly culture newsletter – from books and art to pop culture and memes – sent every Friday. A weekly round-up of some of the best articles featured in the most recent issue of the New Statesman, sent each Saturday. A weekly dig into the New Statesman’s archive of over 100 years of stellar and influential journalism, sent each Wednesday. Sign up to receive information regarding NS events, subscription offers & product updates.
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy