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Eurozone recovery grinds to halt amid Ukraine fear
http://hosted.ap.org/dynamic/stories/E/EU_EUROPE_ECONOMY?SITE=VANOV&SECTION=BUSINESS&TEMPLATE=DEFAULTEurozone recovery grinds to halt amid Ukraine fear
By DAVID McHUGH
AP Business Writer
Aug 14, 6:08 AM EDT
FRANKFURT, Germany (AP) -- The shaky economic recovery in the 18-country eurozone ground to a halt in the second quarter, as the continent's central pillars - Germany and France - were held back by weaker investment by business and by fears over the crisis in Ukraine.
The German economy, the biggest among the countries that use the euro, shrank by a quarterly rate of 0.2 percent while no. 2 France showed zero growth for the second straight quarter. Italy, the No. 3 economy, shrank.
The outcome reported by Eurostat, the European Union's statistics office Thursday, was slightly lower than the 0.1 percent growth expected by market analysts. Some analysts had already scrapped more optimistic projections in the days ahead of the announcement amid a run of disappointing economic news.
The figures bring an end to the eurozone's paltry recovery from its longest-ever recession. Growth, which has been patchy across the region and dependent on Germany, has lasted just four quarters.
