Category: Greater Region
Country entered recession towards end of 2011
Belgium, a bellwether economy within the 17-nation eurozone, entered recession in late 2011, preliminary figures released on Wednesday by the national central bank showed.
Gross domestic product declined by 0.2 percent in the fourth quarter, following a contraction of 0.1 percent in the three months from July through September, according to the bank's data.
For 2011 as a whole however, the economy posted 1.9 percent growth, it added.
Belgium already entered recession in 2009 and 2008, due to the aftershocks of the financial crisis.
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