Eurozone back in recession in Q3

BRUSSELS (AP) ? The 17-country eurozone economy is back in recession.

Eurostat, the EU's statistics office, says Thursday the eurozone economy contracted by 0.1 percent in the July to September period from the quarter before.

That follows on from the 0.2 percent decline recorded in the second quarter and officially puts it in recession, commonly defined as two straight quarters of falling output.

The wider EU, which includes non-euro countries, avoided the same fate. It saw output rise 0.1 percent during the quarter, largely on the back of an Olympics-related boost in Britain.

Source: http://news.yahoo.com/eurozone-back-recession-q3-100356113--finance.html

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