Euro Zone Economy Shrinks; Recession Returns in France
May 15, 2013
PARIS — The euro zone economy shrank more than expected in the first three months of 2013, official data showed Wednesday, marking a sixth consecutive quarter of decline as France returned to recession for the first time since 2009 and Germany marked time. The 17-nation euro zone contracted by 0.2 percent from the last three months of 2012, Eurostat, the statistical agency of the European Union, reported from Luxembourg, less than the 0.6 percent decline recorded in the fourth quarter, but more than economists’ expectations of a 0.1 percent fall. The economy of the overall European Union, made up of 27 nations, shrank by 0.1 percent.
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