New Eurozone recession on the horizon

New Eurozone recession on the horizon

New figures show the Eurozone is heading for another possible recession.

The area saw a 0.2% contraction in the second quarter.

Eurostat says seasonally adjusted GDP fell by 0.4% in the Eurozone and by 0.2% in the EU, compared to the same period last year.

The contraction sets the Euro area up for a possible fall into recession, which is commonly defined as two consecutive quarters of contraction.

However, Germany steered clear of the worst of the debt crisis to post better-than-expected growth.

More in this Section

600 staff temporarily laid off at Quinn Industrial Holdings due to Covid-19600 staff temporarily laid off at Quinn Industrial Holdings due to Covid-19

Crude oil trades as low as at $10 a barrel in North America amid Covid-19 crisisCrude oil trades as low as at $10 a barrel in North America amid Covid-19 crisis

Shopping centre landlord Hammerson in talks about rents with Irish retailersShopping centre landlord Hammerson in talks about rents with Irish retailers

Government costs 'worst-case' job losses of 800,000 in Covid-19 falloutGovernment costs 'worst-case' job losses of 800,000 in Covid-19 fallout


Lifestyle

Ellie O’Byrne rounds up some of the virtual gigs, films and other eventsArts Noticeboard: Online entertainment options

It’s 25 years since Toy Story first stunned us with its brilliance. Esther McCarthy looks back onJohn Lasseter’s masterpiece and why it’s regarded as a milestone of modern cinemaInfinity and beyond: How Toy Story altered movie history

All the wines recommended this week are available for delivery.Wine with Leslie Williams: Looking for a wine delivery service? Here are a few ...

If I could be reborn for a day I’d be a cat. I love their serenity and independence and how they always manage to find that one shaft of sunlight.This Much I Know: Broadcaster, Mary Kennedy

More From The Irish Examiner