BBC NEWS | Business | Europe hit by economic slowdown
Almost all European countries are now in official recession, with the exception of France which is not yet officially in recession. Last quarter numbers are horrific and is the main contributor to negative annual growth rates in the period between q4 2008 and q4 2007.
Breaking it down into nations, its interesting to see that the nations who have developed last(eastern Europe) is in a more severe slowdown than western Europe in general. Latvia for example has contracted 10% between q4 2007 to q4 2008, and thus is only beat by Iceland in Europe.
Despite all, its strange to see Greece still growing both in the quarter and having a remarkable 2% growth between q4 2007 to q4 2008. While Spain for example despite all the harsh talk and the dramatic unemployment numbers is the one of the big 6(Germany, UK, France, Spain, Italy, Poland), which have seen the least dramatic decrease in GDP both in q4 of 2008, and between q4 2007 until q4 2008...
Which should tell the ones on this forum who only insist looking at GDP numbers and GDP per capita and so fourth when measuring the economy, that other numbers matters even more, or equally to GDP.