European shares fall as Japan slips into recession

lunes 17 de noviembre de 2014 04:09 GYT

PARIS Nov 17 (Reuters) - European shares dropped in early trading on Monday, hit by worries over the pace of global growth after data showed Japan, the world's third-largest economy, slipped into recession.

At 0805 GMT, the FTSEurofirst 300 index of top European shares was down 0.7 percent at 1,335.76 points, a level not seen since Nov. 5.

Japan's gross domestic product (GDP) fell at an annualised rate of 1.6 percent in July-September after dropping 7.3 percent in the second quarter following a rise in the national sales tax, which clobbered consumer spending. The country's economy had been expected to rebound by 2.1 percent in the third quarter. (Reporting by Blaise Robinson; Editing by James Regan)