German, French economies contract in fourth quarter


BERLIN/PARIS: Europe's two largest economies, Germany and France, both shrunk markedly in the last three months of 2012, suggesting the euro zone has slipped deeper into recession and throwing a first quarter recovery for the bloc into doubt.

The German economy contracted by 0.6 percent on the quarter, official data showed on Thursday, marking its worst performance since the global financial crisis was raging in 2009.

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