Eurozone officially in recession, figures show
Brussels - The 15-member eurozone officially slumped into recession Friday after its economy contracted by 0.2 per cent for a second quarter in a row, the European statistical office said.
The flash estimate from Eurostat came a day after the European Union's biggest economy, Germany, entered a recession for the first time in five years.
Another eurozone heavyweight, Italy, also slumped into recession after its gross domestic product fell by 0.5 per cent in the third quarter of 2008 after contracting by 0.4 per cent in the second quarter. dpa
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