![Image for Eurozone in historic recession](https://media.cafebabel.com/resized-images/14/50/ccb79c1ad7b3666a685957e4570c8d9b76f5.jpg)
Eurozone in historic recession
Published on
Translation by:
Nabeelah ShabbirOn 13 November, Germany followed Italy with news of an official shrinking economy. It’s the first time the 15-nation region is hit since it was created in 1999
According to the latest Eurostat reports, in the third quarter of 2008 the economy shrank by 0.2%. It’s the second quarter of negative growth – the first was between April and June – and two in a row signifies recession. In comparison to the third quarter this time last year, the eurozone recorded a growth of 0.7%, whilst the EU’s GDP grew by 0.8%.
Translated from La eurozona entra en recesión por primera vez en su historia