GDP : FIGURES CONFIRM RECESSION.

Data published by Eurostat, on 8 January, confirm that the EU is experiencing a recession. GDP declined by 0.2% in both the eurozone and the EU during the third quarter of 2008, compared with the previous quarter. In the second quarter of 2008, growth rates were -0.2% in the eurozone and 0% in the EU.

In comparison with the same quarter of the previous year, seasonally adjusted GDP grew in the third quarter of 2008 by 0.6% in the eurozone and by 0.8% in the EU, after +1.4% and +1.7%, respectively, in the previous quarter.

In the third quarter of 2008, household final consumption expenditure increased by 0.1%...