Figures released on August 14th show that the euro-area economy shrank in the second quarter (see article).

ECONOMIST: The world economy

The most fragile economy in the rich world is that of the troubled euro area, where GDP shrank by 0.2% (an annualised decline of 0.7%) in the second quarter, leaving it 0.4% smaller than a year earlier.

ECONOMIST: The global economy: Summertime blues | The

According to JPMorgan, the economy in Britain probably shrank at an annual rate of 5.9% in the fourth quarter, the euro-area by 5%, and Japan by a heart-stopping 9%, in a country with no housing bubble or banking crisis.

ECONOMIST: The economy