Crisis doesn't seem to slacken in Europe?

As official GDP readouts reported on Friday, in the first quarter of 2009 Europe went deeper into the recession. That appeared to become a result of plummeting of German exports and business investment plus another drop in French economic output accelerated the pace of a year-old contraction in the region. And as the governments and investors believe, the worst part of the recession will possibly be passed soon. 

As for the German GDP, official data shows it decreased mostly since the year 1990, losing 3.8% from the previous quarter. French GDP also tumbled heavily, falling by 1.2% against the previous figures. 

Concerning the euro zone and the wider 27-country EU, first quarter results showed 2% reduction after only 1.6% fall during the previous quarter. 

Britain, which is not in the euro zone but depends heavily on its euro neighbors, reported a biggest quarterly GDP drop since 1979 in the first quarter, as the GDP lost 1.9% from the previous quarter.