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Archive Home > 2009 > May > 16 > Euro zone contracted 2.5% in 1st quarter

Euro zone contracted 2.5% in 1st quarter


May 16, 2009

The economy in the 16 countries that use the euro shrank by a massive 2.5 percent in the first quarter as a global recession sapped the industrial exports that Europe relies on for growth and jobs. Germany, the euro zone’s biggest economy, saw output plunge by 3.8 percent as demand for....

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