Japan's economy sees a sharp fall

Australia lowers interest rates
Australia's central bank cuts interest rates for the first time in seven years as its economy slows

German production stalls in June
Industrial output in Germany grew by just 0.2% in June, adding to fears the economy is on the brink of sliding into a recession.

US loses 62,000 jobs during June
US firms cut jobs for a sixth month in June, stoking fears the world's largest economy is heading for a recession.

Drop in US durable goods orders
US durable goods orders fell 1.7% in February, the latest sign that the economy faces the risk of recession.

Drop in US consumer morale
US consumer confidence fell to a five-year low in February, a survey indicates, fuelling fears the economy is in recession.