Household spending plunge pulls down euro zone GDP in first quarter

Household spending is one of the main drivers of the Euro zone’s economy. GDP of the 19 countries sharing the euro decreased at the rate of 3.1% year-on-year in quarter one 2020. Household consumption was responsible for 2.5 percentage points and investment for 1 points of GDP, while net trade was -0.4 points, government spending also took away 0.1 points.
Reuters