Europe’s recession showed no sign of losing its intensity yesterday as France and the UK reported further sharp falls in industrial production at the start of the year, with German exports also badly hit.

The gloomy data indicated Europe’s biggest economies were still contracting at similar rates to late last year, when it became clear the recession had become the worst since the second world war. They highlighted how manufacturers continue to bear the brunt of the global slowdown, with exporting nations such as Germany and Japan worst affected.

Financial Times