DOUBLE-DIP: The Euro Area Slips Back Into Recession

northwestern europe at night

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Northwestern_Europe_at_Night.JPG”]

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.

 

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