Eurozone edges back towards recession

Figures published in August 2012 showed that the eurozone edged closer towards its second recession in three years after a resilient economic performance from Germany and France failed to prevent the single currency bloc from contracting in the second quarter of 2012.

Gross domestic product in the euro area shrank 0.2% in the three months to June 2012, compared with the previous three months when there was no growth, as the economies of Greece, Italy, Spain and Finland contracted sharply.

BBC News, 14.8.12: Eurozone economy shrinks by 0.2% http://www.bbc.co.uk/news/business-19252724

Eurostat: News Release No.119, 2012: Euro area and EU27 GDP down by 0.2% http://ec.europa.eu/eurostat/en/web/products-press-releases/-/2-14082012-BP

ESO: Background information: Greece GDP shrinks in second quarter http://www.europeansources.info/record/greece-gdp-shrinks-in-second-quarter/

ESO: Background information: German economy cools, raising concerns about eurozone http://www.europeansources.info/record/german-economy-cools-raising-concerns-about-eurozone/

EUObserver, 14.8.12: Eurozone slides deeper into recession, Germany grows http://euobserver.com/economic/117233

EurActiv, 14.8.12: Eurozone growth falls, signalling trouble for Germany http://www.euractiv.com/euro-finance/eurozone-growth-falls-signalling-news-514296

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