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The economy is not looking pretty across the eurozone (Photo: European Community)

Eurozone at risk of first-ever recession

The eurozone is facing the threat of the first ever recession in its brief history since 1999, according to the latest business data on the 15-country single currency bloc.

A survey issued on Thursday (24 July) of some 5,000 companies showed both manufacturing and services activity declining rapidly in July, after data for March to June suggest that the second quarter may have experienced economic contraction.

If the July to September period continues on its downward trajectory, ...

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The economy is not looking pretty across the eurozone (Photo: European Community)

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