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LONDON (MarketWatch) -- The 15-nation euro zone tumbled into recession, according to third-quarter gross domestic product data released Friday. GDP contracted by 0.2% from the previous quarter, which follows a 0.2% decline in the second quarter, according to the statistical agency Eurostat. A recession is commonly defined as two consecutive quarters of shrinking GDP. Third-quarter GDP rose 0.7% compared to the same period last year. The figures were in line with expectations. Economists had forecast a 0.1% quarterly decline and a 0.7% annual rise.