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Eurozone economy shrinks by 0.2% 


The eurozone economy has contracted in the three months to June due to lower private spending and falling exports, adding to fears of a lasting slowdown.

The 15-nation area saw its economy shrink by 0.2% in the quarter compared with the previous three months, statistical office Eurostat said.

High fuel and food prices have dented consumer spending across Europe - one of the key drivers of the
economy.

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Source: BBC Business News 3 september 2008
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