(PTI): Official figures show that Switzerland has entered into a deep recession as the country’s economy has declined 0.8% in the first quarter of 2009.
The contraction came after a decline of 0.3% was recorded in the last three months of 2008. A country is generally considered to be in recession after two consecutive quarters (more…)
(PTI): Israeli central bank data indicate that Israel could experience the worst economic recession of its 61-year history this year.
Israel’s gross domestic product is projected to shrink 1.5 percent this year and this would mark Israel’s worst recession, a central bank forecast shows. Israel’s Central Bureau of Statistics (CBS) has declared that the economy shrank at a 3.6 percent (more…)
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