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Europe's economy: From mediocre to worse

A new round of economic data shows that Europe's crisis isn't getting any better.

Europe's economy: From mediocre to worse

Attention, German Chancellor Angela Merkel.

You still have a problem.

As much of Europe fritters away another August vacation, theeconomic world keeps spinning.

And unfortunately for the world's largest economic bloc, thenews isn't getting better.

Overall, the euro zone economy contracted by 0.2 percentfrom the previous quarter.

As for Italy, Spain, Portugal and Greece? You don't evenwant to know.

Meanwhile, second quarter gross domestic product in Francecame in at a whopping zero percent.

Germany's economy grew at a better (but still anemic) rateof 0.3 percent in the quarter, as the country learned it's hard to sell stuffto your drowning neighbors.

But if you're a glutton for punishment, take heart.

GlobalPost's infographics wizard Kyle Kim has put togetherthis helpful little chart that tallies the damage over the past year in asingle glance.

And, yes, it's ugly out there.

But don't say we didn't warn you.

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CII-BCI Q2 index falls

The CII Business Confidence Index (CII-BCI) for July-September 2012 fell by 3.7 points to 51.3, after rising to 55.0 in April-June 2012 from 52.9 in the previous quarter.

Team Goan
Published Aug 17, 2012, 11:25 AM IST
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“The falling index value is reflective of the low businesssentiments that has been prevailing for the last few quarters”, saidMr.Chandrajit Banerjee, Director General, Confederation of Indian Industry.The 80th Business Outlook Survey reveals that Stagnancy inreforms is the top concern of most firms, followed by Slackening consumer demandand High interest rates. “CII has been recommending implementation of reformsin the areas of indirect taxation, land acquisition, fast…

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