The gross domestic product (GDP) of the EU is estimated to have shrunk by 6.4 percent in 2020, according to a forecast by Eurostat presented Tuesday.

Due to tightened corona measures, the contraction in the fourth quarter amounted to 4.8 percent compared to the same period a year earlier.

Due to the lockdowns and the lack of tourists, Austria, France and Italy in particular experienced a significant contraction in the fourth quarter.

Austria recorded a decline of 4.3 percent compared to the previous quarter.

Due to the corona crisis, the second quarter of last year recorded the largest GDP decline (-11.4 percent) in the EU since 1995.

In that year, the maintenance of these data began.

In the third quarter, the easing of corona measures was accompanied by a strong rebound in GDP (+11.5 percent).

This growth has been largely offset by subsequent lockdowns, according to the first estimate of the European Statistics Office.