EU: Euro-zone in recession

The European Union says the 15 countries that use the euro are recession as figures show their economy shrank for two quarters in a row because of the financial crisis and falling demand.

EU statistics show the euro economy shrank by 0.2 percent in both the hird and second quarters compare to the quarter before.

Germany and Italy are in recession individually, Eurostat said. Two successive quarters of negative growth is one common definition of a recession.