 |
 |
Newly released figures show that the eurozone (countries that use the Euro) has gone into recession for the first time in its history. Germany went into recession on Thursday, prompting fears that other major economies might follow suit. Greg Morsbach has more:
The Spanish government also reported its first negative growth in fifteen years.
But France bucked the trend of gloomy news today: they defied economic forecasts and narrowly escaped recession by announcing minimal growth for the period between July and September.
figures
here, official statistics
officially in recession
‘recession’ means a period, shorter than a depression, when there is a stable decline in a country’s economy; a country is officially in recession when its economy declines, or becomes smaller, for two consecutive quarters
consecutive quarters
periods of three months each, one following the other
negative growth
when economy declines
shrank
declined, became smaller
posting
finishing with, registering, announcing
bucked the trend
didn’t do what most others did
gloomy
leaving no hope, causing despair
defied economic forecasts
showed different - better - results than many expected
narrowly escaped
only just managed to avoid
