Eurozone slides back into recession

Official figures show the eurozone is back in recession for the first time in three years, with its economy shrinking for a second consecutive quarter.

Gross domestic product in the 17-member single currency zone declined by point-one per cent in the three months to September.

It was the fourth consecutive quarter of zero growth or worse in the region, where more than 18 million people are out of work.

The economy of France grew by 0.2 per cent, as did the region's strongest economy, Germany, but other indicators suggest that country's prospects will worsen as its struggling neighbours demand fewer products.

The austerity measures that led to strikes across the continent this week are set to continue, which could further threaten growth in the region's economies.

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