Eurozone economy is expected to fall back into contraction during Q2

The Eurozone is expected to fall back into contraction in the fourth quarter due to the new restrictions introduced last week, according to the Financial Times.

After growing by a record 12.7 percent during the third quarter, economists polled by the Financial Times now see euro GDP falling 2.3 percent in 4Q, raising the spectre of a double-dip recession early in 2021.

The data, along with the array of fresh restrictions announced in France, Germany and other countries in recent days, sent economists scrambling to update their forecasts