Coronavirus live updates: Euro zone economy contracts; why the coronavirus 'R' rate matters [CNBC]
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Source: CNBC
This is CNBC's live blog covering all the latest news on the coronavirus outbreak . This blog will be updated throughout the day as the news breaks. The data above was compiled by Johns Hopkins University as of 3:46 p.m. Beijing time. All times below are in Beijing time. The euro zone economy contracted by 3.8 % in the first quarter , compared to the last three months of 2019, as the coronavirus pandemic severely impacted business activity in the region. The 19-member euro area, which shares the single currency, has one of the hardest hit by Covid-19. Germany, France, Spain and Italy — the four largest euro economies — are among the top six countries worldwide with the highest number of infections. The strict lockdown measures in most of the euro area have meant that all non-essential services have been closed for several weeks. Italy was the first country to close with a nationwide lockdown imposed from March 10, suggesting that second-quarter data will likely be much wo
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