DOUBLE-DIP: The Euro Area Slips Back Into Recession

northwestern europe at night

Photo: Wikimedia Commons

Q3 GDP contracted by 0.1 per cent in Europe, which was right in line with expectations.That makes two consecutive quarters of contraction, which many consider to be a recession.

This is the second time we’ve seen back-to-back quarterly contractions in four years, which has people calling this a double-dip recession.

Markets remain in the red across Europe.

 

SEE ALSO: Photos Of The Mass Austerity Protests Sweeping Across Europe >

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