Economy EU forecasts 'recession of historic proportions' this year Updated : May 06, 2020 04:11 PM IST France’s economy is expected to shrink by about 8.2 percent, while Germany will endure a more moderate contraction than most and recover better. The unemployment rate across the 27-nation EU is forecast to rise from 6.7 percent in 2019 to 9 percent in 2020. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.