Friday, February 13, 2009
Europe's economy slides
Posted by David Smith at 10:30 AM
Category: Thoughts and responses

Euro zone GDP figures for the fourth quarter added a little to the "Who's suffering the worst recession?" debate. For euroland as a whole, the fourth quarter drop in GDP was 1.5%, the same as in Britain. Both Germany, down 2.1%, and Italy, off by 1.8%, suffered bigger slides.

This is clearly a serious recession for Europe, certainly the worst since the euro came into being, and almost certainly the worst since the second world war. More details here.