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Eurozone sinks into recession
THE economy of the 15 nations sharing the euro has slumped into recession for the first time ever, EU data released today revealed, with GDP falling 0.2 per cent in the second and third quarters.The 27-nation EU as a whole avoided the same fate only by recording zero, rather than negative, growth in the second quarter On a 12-month comparison, the eurozone economy grew 0.7 per cent in the third quarter, down sharply from 1.7 per cent in the previous quarter, the official Eurostat agency said. Posted by: tipper 2008-11-14 |
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