StatecGDP drops by 7.8% during second trimester

RTL Today
In the second trimester of 2020, the GDP fell by 7.8% compared to the same period last year, and by 7.2% compared to the previous trimester this year.

These figures are the first estimates published on Friday morning by Statec.

The financial activities and insurance sector saw a decline of 5.5%, while the trade, transport accommodation and catering sector contracted by 14.7%.

While real estate activities show a decrease of only 0.3% and public administration of 2.1%, the industry, energy, and water supply sector shows a 17.7% contraction.

The only increase was in the information and communication sector: +3.7%.

Most of these negative developments could be attributed to the containment implemented to combat the spread of the coronavirus.

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