The Eurozone is back in a recession, its first in three years, as gross domestic product for the debt-plagued 17-nation bloc contracted 0.1% in the third quarter from the earlier quarter.
In the second quarter, the currency collective tightened 0.2%, according to the official European Union statistics agency, Eurostat. Two consecutive quarterly slips make a recession.
Growth in core countries such as Germany and France couldn't counteract the plunges in long-struggling, austerity-bound nations such as Spain and Italy. Portugal took an especially nasty 0.8% dive.
Even countries that had been expanding took a dive, with the Netherlands experiencing a 1.1% squeeze and Austria contracting 0.1%. Germany saw its growth slow to 0.2% in the third quarter from 0.3% in the second.
France, however, reversed a string of flat or down quarters with 0.2% expansion.
The wider, 27-member European Union escaped recession, its GDP advancing 0.1% in the third quarter after tightening 0.2% in the second. In Britain., fresh off the Summer Olympics, the economy boomed 1% after a 0.4% drop.
A separate Eurostat report Thursday showed annual inflation in the euro-currency area down to 2.5% in October, from 2.6% the previous month.
In a speech Thursday, European Central Bank President Mario Draghi urged governments to avoid tax hikes in favor of spending cuts as a strategy for fiscal consolidation. He also stressed the need for "calm pragmatism going forward.
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"It is essential that all parties involved in Europe's large and complex path of reforms stick to their commitments," Draghi said.