Euro Zone falls into recession

The economy in the Euro Zone shrunk again in the last quarter of 2012 with the GDP dropping -0.1% from the three previous months and falling back into a technical recession, according to data from the Eurostat.

On the second quarter of 2012, the European Union and Euro Zone economies faced losses of around -0.2%.

In Portugal, the economy contracted -0.9% from the previous quarter, as the National Stats Office INE announced last December.

At the time, INE estimates for the last quarter worsened by -0.1%, to a total -3.5%, in comparison with the same period from 2011.