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EU growth figures show further slide into recession

Friday the 13th proved to be another dark day for the European Union as new figures published by the European statistics office showed the economy continued to contract in the fourth quarter of 2008.

According to flash estimates from Eurostat, GDP declined by 1.5 per cent compared to the previous quarter in both the countries that use the euro and the Europe as a whole during the fourth quarter of 2008.

In the third quarter of 2008, growth rates fell by a smaller 0.2 per cent, h...

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The fall in GDP comes straight off the back of extremely weak industrial production figures on Thursday. (Photo: European Commission)

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