German production stalls in June

Eurozone officially in recession
The eurozone officially slips into recession after new figures show that the economy contracted 0.2% in the third quarter.

Pound falls again against dollar
Sterling's losses mount as the currency hits its lowest in six years against the dollar on fears of a deep recession.

Oil falls to below $60 a barrel
The price of Brent crude oil falls below $60 a barrel for the first time in 20 months, amid fears of a recession in the US.

Australia lowers rates to 5.25%
Australia's central bank cuts its key interest rate from 6% to 5.25% in an attempt to boost the economy and avert a recession.

Eurozone is on verge of recession
The eurozone's economy shrank by 0.2% in the second quarter of the year, according to the European Commission.