Friday October 23, 2020

Euro zone slips into second recession in four years

The euro-area economy slipped into a recession for the second time in four years as governments imposed tougher budget cuts and leaders struggled to contain the debt crisis.

15th November, 2012
2
Gross domestic product in the euro zone slipped 0.1 per cent in the third quarter after a 0.2 per cent decline in the previous three months.

The euro-area economy slipped into a recession for the second time in four years as governments imposed tougher budget cuts and leaders struggled to contain the debt crisis that broke out in October 2009.

Gross domestic product in the 17-nation single-currency bloc slipped 0.1 per cent in the third quarter after a 0.2 per cent decline in the previous three months, the European Union’s statistics office in Luxembourg said today. That’s in line with the median...

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