Eurozone slips deeper into recession, European shares, euro slip

Eurozone slips deeper into recession, European shares, euro slip Zeebiz Bureau

New Delhi: Eurozone slipped deeper into recession in late 2012 than had been expected pushing European stock markets lower and with the euro sliding against the dollar on Thursday, as per a news wire.

The euro tumbled to a three-week low against the dollar and plunged against the yen after data on gross domestic product painted a dismal picture of the euro zone's economy.

Economic output in the 17-country region fell by 0.6 percent in the fourth quarter, EU statistics office Eurostat said, while Germany contracted by 0.6 percent, marking its worst performance since the global financial crisis was raging in 2009.

With Agency Inputs