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Home BUSINESSRecession in Euro zone deepens
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Thu, 16 May, 2013 12:00:49 AM
FTimes News Desk, May 16


The euro area economy has shrunk by one and a half years without interruption, news agency STT reported quoting AFP and Reuters.

The region's GDP fell in January-March a year earlier, says the EU's statistical office Eurostat. 

The figures were worse than economists had predicted. This is the longest in the history of the euro area recession. 

recession. France's gross domestic product has fallen for two consecutive quarters. Germany narrowly avoided a recession. The country's GDP grew from the previous quarter but shrank 0.3 percent from a year earlier. 

Finland's GDP contracted by Eurostat according to two percent a year earlier.

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