France
The eurozone’s number two economy was in a longer and stricter lockdown than its eastern neighbor, and second-quarter GDP fell more steeply, by 13.8%, after a drop of 5.9% in the previous three months.
France’s previous all-time worst quarterly blow to output was dealt by a general strike in May 1968.
Italy
Italy’s growth was impacted very early on by the coronavirus which hit its richest region, Lombardy, particularly hard. Italian GDP fell by 5.4% in the first quarter and then by 12.4% in the second.
Spain
After a 5.2% drop in the first quarter, Spain’s economy contracted a further 18.5% in the second, notably because of a 60% drop in tourism income and a fall by one-third in exports.
Eurozone
The eurozone’s overall GDP plunged 12.1% in the three months to June, after 3.6% in the first quarter, making the second quarter downturn “by far” the worst since statistics agency Eurostat started compiling growth data for the area in 1995. The eurozone collectively is Israel’s major trading partner.
United States
The United States, the world’s top economy, suffered a 9.5% slump in the second quarter following a 1.3% drop in the first, according to figures published by the OECD.
The US government also publishes annualized figures (-32.9% in the second quarter), a method that is not comparable with most other countries.
China
China, the world’s second-largest economy, may have been where the novel coronavirus originated, but thanks to strict lockdown measures it was able to largely halt the spread of the virus and reopen factories, thus avoiding a recession.
In the second quarter its economy rebounded by 11.5%, having fallen by 10% in the first quarter. Still, growth for this year will be well below the breakneck rates China has seen in recent years.
Times of Israel staff contributed to this report.