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Euro-zone Economy is in Recession

The Associated Press

BRUSSELS, Belgium (AP) -- The European Union says the 15 countries that use the euro are in recession as figures show the economy shrank for two quarters in a row because of the financial crisis and falling demand.

EU statistics show the euro economy shrank by 0.2% in both the third and second quarters compared with the quarter before.

Germany and Italy are in recession individually, Eurostat said. Two successive quarters of negative growth is one common definition of a recession.