News Summary: Eurozone Slides Back Into Recession
The Associated Press
FAMILIAR TERRITORY: The 17-country eurozone, dogged by high unemployment and debt and pressure to cut government spending, has fallen into another recession.
THE DETAILS: Official figures Thursday showed that the eurozone contracted by 0.1 percent in the July-September period after a 0.2 percent decline in the previous three months. Two consecutive declines in output generally define a recession.
THE OUTLOOK: Surveys pointing to increasingly depressed conditions suggest the recession could deepen. The stakes are high for American business as the region that shares the euro currency is the U.S.'s largest export customer.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts