A stark series of data released on Thursday certify the grim state of the European economy, with unemployment up, GDP sliding, and both economic sentiment and business climate indicators reaching all-time lows. The eurozone's gross domestic product declined by 0.2 percent in the third quarter of 2008 compared with the previous quarter, according to estimates from Eurostat, the EU's statistics office. The EU performed middlingly out of the big three economies, with US GDP declining 0.1 percent and Japanese GDP down 0.5.
A stark series of data released on Thursday certify the grim state of the European economy, with unemployment up, GDP sliding, and both economic sentiment and business climate indicators reaching all-time lows.
The eurozone's gross domestic product declined by 0.2 percent in the third quarter of 2008 compared with the previous quarter, according to estimates from Eurostat, the EU's statistics office.
The EU performed middlingly out of the big three economies, with US GDP declining 0.1 percent and Japanese GDP down 0.5.
