Fall in German output worsens recession
Thursday 14 February 2013
A shocking decline for the mighty German economy has sunk the eurozone even deeper into recession.
The single currency bloc suffered a far worse than expected 0.6 per cent fall in output in the final quarter of 2012 – twice as bad as the UK's 0.3 per cent reverse, and the region's third successive quarter on the back foot.
Germany, economic engine room of the eurozone, slipped 0.6 per cent in its worst performance since the immediate aftermath of the financial crisis in 2009. The main culprit was slackening export demand from elsewhere in Europe.
French output shrank 0.3 per cent, but in the struggling periphery the damage was far worse, as Italy declined 0.9 per cent and Spain 0.7 per cent while bailed-out Portugal slumped a mammoth 1.8 per cent quarter on quarter. In Greece – suffering its sixth straight year of recession – the economy shrank 6 per cent year on year.
- 1 Raif Badawi, the Saudi Arabian blogger sentenced to 1,000 lashes, may now face death penalty
- 2 PornHub turns masturbation into energy in bid to save the planet
- 3 Dakota Johnson's 'It's only Isis' Saturday Night Live sketch sparks controversy
- 4 Robert Mugabe eats a zoo for 'obscene' 91st birthday party
- 5 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
End of the licence fee: BBC to back radical overhaul of how Corporation is funded
Raif Badawi, the Saudi Arabian blogger sentenced to 1,000 lashes, may now face death penalty
Someone has actually got a tattoo of that dress
PornHub turns masturbation into energy in bid to save the planet
White and gold or blue and black – what colour is the dress? An eyewitness gives a definitive answer
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
iJobs Money & Business
£15000 - £16000 per annum: Recruitment Genius: A Customer Service Advisor is r...
£22000 per annum + pension,bonus,career progression: Ashdown Group: An establi...
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...