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
World Day for Safety and Health at Work
“Safety and health at work every day!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week
Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
