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Eurozone Slips Into Recession … Again

Economists expect its economy to worsen in the current quarter


The eurozone is back in recession. Data from Eurostat, which compiles economic statistics for members of the European Union, found that the organization’s collective economy has contracted for a second consecutive quarter.

During the third quarter, the eurzone’s gross domestic product slipped 0.1%. That was narrowly better than the 0.2% dip recorded during the second quarter, the New York Times noted.

Lessons From Europe for an American Abroad
Lessons From Europe for an American Abroad

French GDP bucked economists’ forecasts, expanding at 0.2%, while Italy’s 0.2% decline was better than anticipated. However, Germany’s GDP rose only 0.2%, down from 0.3% growth in the prior quarter. Economists expect Germany’s economy to continue to slow during the current quarter and into next year as exports decline.

The eurzone has now experienced four straight quarters of flat or negative growth. Unemployment across Europe stands at 11.6%. Economists expect the recession to worsen in the fourth quarter.

Article printed from InvestorPlace Media,

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