Eurozone officially in recession

Germany made the difference though Spain also declined for the second straight quarter. The bright spot has been France, which expanded in Q3.

The euro zone is in its first ever technical recession after the economy contracted for the second time in a row quarter-on-quarter in the July-September period, an official estimate showed on Friday.

The European Union's statistics office, Eurostat, estimated that the economy of the 15 countries using the euro shrank 0.2 percent in July-September against the previous quarter after contracting by the same amount in April-June.

In Asia, Hong Kong and Singapore are both in recession and others such as Japan are inching closer.