GERMANY, TOO: Output in Europe's biggest economy, Germany, contracted by more than anticipated in the last three months of 2012 as the recession deepened across the economy of the 17 European Union countries that use the euro.
GRIM NUMBERS: The EU's statistics office said the eurozone's economic output shrank by 0.6 percent in the final quarter of 2012 from the previous three-month period. The decline was the steepest since 2009, when the global economy was in its deepest recession since World War II.
THE OUTLOOK: There are hopes, though, that the fourth quarter of 2012 will mark the low point for the eurozone, and Germany in particular. Many economists are predicting that the eurozone recession may end in the first half of the year.