How does this economic downturn compare to 2009?

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Economic Downturn Shows Sharpest Contraction Since 2009 Global Financial Crisis

The European Union's economy experienced its most significant quarterly contraction since the height of the 2009 global financial crisis, with official data revealing a 3.5% shrinkage in the first quarter. This downturn reflects the severe impact of widespread lockdown measures implemented across the bloc to curb the spread of Covid-19, leading to substantial declines in economic activity.
EU Economy Shrinks Significantly in Q1

Official figures from Eurostat indicate that the EU economy contracted by 3.5% in the first quarter of the year. The eurozone, comprising 19 member states, faced an even sharper decline of 3.8% during the same period. These statistics represent the most substantial quarter-on-quarter drop in gross domestic product (GDP) recorded by the agency since it began compiling data in 1995.
Year-on-Year GDP Declines Reach Crisis Levels

When compared to the corresponding period in the previous year, GDP across the EU was down by 2.7%, and within the eurozone, the decline was 3.3%. These figures mark the most significant year-on-year decreases observed since the peak of the global financial crisis in 2009, underscoring the severity of the current economic shock.
National Economies Face Severe Contractions

The widespread economic impact is evident at the national level. France officially entered a recession, reporting a 5.8% contraction in its GDP for the first quarter, the worst performance since records began in 1949. Spain, a heavily impacted country, saw its GDP shrink by 5.2%. Even Germany, often considered the economic powerhouse of Europe, experienced a rise in unemployment, with the jobless total increasing from 2.3 million in March to 2.6 million in April.

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