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Showing posts with label Grim fourth quarter spells deeper eurozone recession. Show all posts
Showing posts with label Grim fourth quarter spells deeper eurozone recession. Show all posts

Grim fourth quarter spells deeper eurozone recession

The eurozone economy shrank more than earlier estimated in the fourth quarter of 2008 and the third quarter was weaker too, revised data showed, pointing to an even worse 2009 figure than feared and knocking down the euro. Gross domestic product in the 15 countries that were using the euro in the fourth quarter contracted by a record 1.6 percent against the previous three months, rather than the previously reported 1.5 percent, EU statistics office Eurostat said.

Wednesday, April 8, 2009

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