LONDON — The 17-country eurozone has fallen back into recession for the first time in three years as the fallout from the region’s financial crisis was felt from Amsterdam to Athens.
And with surveys pointing to increasingly depressed conditions at a time of high unemployment in many countries, there are fears that the recession will deepen, and make the debt crisis — which has been calmer of late — even more difficult to handle.
Official figures today showed that the eurozone contracted by 0.1 percent in the July to September period from the quarter before as economies including Germany and the Netherlands suffer from falling demand.
Because of the eurozone’s grueling three-year debt crisis, the region has been the major focus of concern for the world economy. The region, with its 332 million people, is the U.S.’s largest export customer, and any fall-off in demand will hit order books.