Eurozone in second recession since 2009

The eurozone debt crisis dragged the bloc into its second recession since 2009 in the third quarter, despite modest growth in Germany and France, data showed yesterday.

The French and German economies both managed 0.2% growth in the July-to-September period but their resilience could not save the 17-nation bloc from contraction as the likes of The Netherlands, Spain, Italy and Austria shrank.

Economic output in the eurozone fell 0.1% in the quarter, following a 0.2% drop in the second quarter.