Skip to comments.Double-dip recession confirmed in eurozone
Posted on 11/15/2012 5:39:16 AM PST by John W
The eurozone has tumbled into a double-dip recession as the crisis in Portugal, Spain and Greece spreads to other countries in the currency bloc.
Eurozone GDP fell by 0.1% in the third quarter, after shrinking by 0.2% in the second quarter, plunging the region into a recession that economists fear could drag into next year.
The big surprise was the triple-A rated Netherlands, which saw its economy shrink by 1.1% in the third quarter, dragged lower by a 3.1% decline in investment and a 2.4% drop in exports. Economists had expected Dutch GDP to contract by just 0.2%. Austrian GDP also shrank by 0.1%.
(Excerpt) Read more at guardian.co.uk ...
here it comes folks!
better get your finances in order.
The Japanese have led the way on this brand of economics. They have just entered their 5th recession of the last 15 years.
Its the new normal.
It’s good that Obama is going to make us all fair by involving us all in the recession.
Funny how all this news is coming out just after the election.
I hear that Spain has given up paella in favor of payola.
What do you suggest?
stay as liquid as possible, pay down your debts and don’t incur any new ones, open an overseas account.