Europe is currently facing a second wave of COVID-19 infections that could once again cause serious harm to the regional economy.

Economy (euro) decreased by 11.8% in quarter 2/2020, due to be affected by the strict blockade measures to prevent the spread of COVID-19.

Economists predict that the Eurozone economy will recover in the second half of 2020, but are also skeptical about this forecast.

Many governments are now announcing new blockade measures or restricting the reopening of the economy amid rising COVID-19 infections.

Carsten Brzeski, chief economist at ING, told CNBC that the possibility of the Eurozone economy facing a , another decline in the second quarter of 2020, has increased significantly.

The expert predicts that the region will implement more blockade measures in the coming weeks, such as in Madrid, Spain and Lyon, France.

Sharing this view, Chris Williamson, chief economist at IHS Markit, also said that the Eurozone economy is in danger of facing a double recession.

Data released this week shows that the economic recovery in Eurozone in September 2020 has slowed down. The Purchasing Managers’ Index (PMI) in this area stands at 50.1, slightly above the 50 level, which is the dividing line between growth and contraction.

According to expert Williamson, governments will implement more restrictive measures in the fourth quarter of 2020 and this will actually slow the growth of the economy.

Cathal Kennedy, for his part, European economist at RBC, said that the new measures will once again impact the service sector and this will slow business operations in the coming months. .