Tuesday, May 26, 2009

FT.com / UK - Germany drags eurozone faster into slump

FT.com / UK - Germany drags eurozone faster into slump: "The eurozone recession intensified markedly earlier this year. It outpaced the US slowdown in ferocity and was dragged down by a contraction of almost 4 per cent in the German economy.

Gross domestic product in the 16-country region contracted by a greater-thanexpected 2.5 per cent in the first quarter, according to official data yesterday. That deepened what was already the worst recession in continental Europe since the second world war. The final quarter of 2008 had seen a 1.6 per cent fall in GDP."

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