The recession that started in the second quarter of 2008 worsened towards the end of the year, with both the EU's and the euro area's GDP declining by about 1½% (quarter-on-quarter) in the last quarter.
Langus, mis sai alguse 2008. aasta teises kvartalis, süvenes aasta lõpuks veelgi ning nii ELis kui ka euroalal langes SKP viimases kvartalis umbes 1,5% (võrreldes eelmise kvartaliga).