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GDP Nosedives Across Atlantic

4th-quarter GDP drop signals worsening recession

By Matt Cantor, Newser Staff

Posted Feb 13, 2009 6:20 AM CST

(Newser) – We're not alone: The euro zone’s recession worsened in the fourth quarter of last year as its GDP saw its biggest decline since records began in 1995, the Wall Street Journal reports. The GDP contracted 1.5% quarter-to-quarter and 1.2% since the year before, EU figures showed. Germany, the zone's biggest economy, recorded its biggest GDP plunge in 20 years, with France and Italy not far behind.

A woman sells peaches on the street in central Dublin, Ireland, Friday, Sept. 26, 2008. (AP Photo/Peter Morrison)

A woman walks with a plastic shopping bag as a hand reaches out from a person begging for money in Madrid, Thursday Feb. 12, 2009. (AP Photo/Arturo Rodriguez)

A woman shops for cereal in Madrid Friday, Nov. 14, 2008. (AP Photo/Daniel Ochoa de Olza)

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GDP Nosedives Across Atlantic

4th-quarter GDP drop signals worsening recession

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Euro in 'Survival Crisis' as Portugal Heads for Bailout

Finance ministers meet to discuss new stability plan

Euro Breakdown Starts Now

CEBR gives Eurozone 99% failure rate over 10 years

As Summit Looms, ECB Slashes Rate Again

Meanwhile, Merkel and Sarkozy try to drum up support for plan

Sarkozy, Merkel Announce Plan to Save Euro

Meanwhile, Italy announces austerity measures

Clutching at Straws

Euro leaders must embrace real fiscal union before it's too late

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GDP Nosedives Across Atlantic

4th-quarter GDP drop signals worsening recession

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OTHER STORIES ON OUR RADAR

European Union • Europe • recession • GDP • euro • eurozone

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Euro in 'Survival Crisis' as Portugal Heads for Bailout

Finance ministers meet to discuss new stability plan

Euro Breakdown Starts Now

CEBR gives Eurozone 99% failure rate over 10 years

As Summit Looms, ECB Slashes Rate Again

Meanwhile, Merkel and Sarkozy try to drum up support for plan

Sarkozy, Merkel Announce Plan to Save Euro

Meanwhile, Italy announces austerity measures

Clutching at Straws

Euro leaders must embrace real fiscal union before it's too late

About Us

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Newser By Users

Community

Site Maps

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More News

What is Newser?