SME Times is powered by   
Search News
Just in:   • Sensex trades flat  • London needs 1.3 tn pounds to boost infrastructure: Report  • Moscow calls US sanctions 'illegitimate'  • Reckless remarks have dented Goa's image: Tourism industry  • E-rickshaws causing accidents in Delhi, traffic police tells court 
Last updated: 16 Nov, 2012  

Euro.Thmb.jpg Euro zone economy contracts in third quarter

Euro.jpg
   Top Stories
» Minister gives details of schemes available for agri exporters
» Kerry visit a start, Modi visit to US pivotal
» Decision on GM crops put on hold: Javadekar
» EU to impose more restrictive measures against Russia
» Breaking protocol, Nepal PM to personally receive Modi
IANS/EFE | 16 Nov, 2012

The economy of the 17-member euro zone contracted 0.1 percent in the third quarter, the Eurostat statistics office said Thursday.

Spain, the fourth-largest euro zone nation, saw its economy shrink by 0.3 percent compared with the second quarter and by 1.6 percent from June-September of 2011.

At least seven of the 27 European Union countries were in recession in the third quarter, including euro zone members Spain, Italy, Portugal and Greece.

Lisbon and Athens have been forced to impose harsh austerity policies in exchange for EU help in paying their creditors, while Madrid has engaged in voluntary belt-tightening without seeking a bailout from Brussels.

Ireland, also subject to EU-mandated austerity, technically emerged from recession in the third quarter, but unemployment remains high, though well short of the 25 percent jobless rate in Greece and Spain.

The Eurostat report also showed that the Dutch economy shrank 1.1 percent in the third quarter.

Germany, Europe's economic giant, logged growth of 0.2 percent in the June-September period, down from 0.3 percent in the second quarter.

The No. 3 euro zone economy, France, grew 0.2 percent after slipping 0.1 percent in the previous quarter.

The one bright spot in Thursday's data was non-euro-member Britain, which posted an expansion of 1 percent after declines in the first and second quarters.

 

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
60.45
59.45
UK Pound
103.10
100.80
Euro
82.55
80.55
Japanese Yen 59.55 58.10
As on 31 Jul, 2014
  Daily Poll
Jaitley's Budget - 2014 is the best ever for Small and Medium Enterprises
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(10)
» SMEs face tough competition from Chinese imports: MSME Min(9)
» MSME schemes - Do you know all of them?(6)
» Never cease to learn(5)
» Credit rating can help SMEs in more ways than one(4)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter