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EU says eurozone economy to shrink again in 2013
By The Associated Press
This article was published February 22, 2013 at 11:15 a.m.
BRUSSELS — The European Union predicted Friday that the economy of the 17 member countries that use the euro will remain in a recession in 2013 even though the union will see its fortunes improve in the second half of the year.
In its winter forecast, the European Union Commission, the European Union’s executive arm, said the eurozone is likely to shrink a further 0.3 percent this year, in contrast with November’s prediction of 0.1 percent growth.
The eurozone has been in recession since the second quarter of 2012, when concerns about the future of the euro were particularly acute.
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