It has been reported that Britain's GDP and its manufacturing output each dropped 0.02% in July. It's the 5th consecutive month of economic contraction, and a 6th month - which would official signal recession - is expected.
Also, the EU expects Germany and Spain to enter into economic recession this year (no numbers for their manufacturing output reported).
Frankly, I'm surprised that with the high costs of fuel and shipping, decimation of each country's base manufacturing demographic, and crises in the housing and financial markets (yeah, they're dealing with that, too) that they all hadn't entered into recessions already.
