The eurozone economy shrank more than previously estimated in the last three months of 2008, official figures say.
Gross domestic product in the 15-nation area fell 1.6%, not 1.5% as previously thought, said the EU’s Eurostat office.
The euro declined against the dollar to $1.3270 from $1.3330 after the figures came out, amid fears the economy could contract even further in 2009.
The drop is the deepest quarterly fall to date and was brought on by a collapse in external trade.
The eurozone now includes 16 nations that use the euro as their national currency, after Slovakia adopted the euro at the beginning of this year. Slovak GDP was not included in the 2008 figures.
“Worryingly, it is far from inconceivable that eurozone GDP contraction was even deeper in the first quarter of 2009, given largely dire data and survey evidence,” said Howard Archer, economist at IHS Global Insight.
“This will hopefully have marked the low point in the downturn, although recovery currently still looks some way away, ” he said. –BBC News
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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