TIMELINE: World economies slide into recession

(Reuters) - From the United States to Asian export giant Japan to European powerhouse Germany, the world's top economies are now in recession as the global financial crisis deepens. They are not the only ones.

The following list shows the countries that have reported they are in recession. The most common definition of recession is when an economy contracts for two consecutive quarters.

* July 1, 2008: DENMARK

-- Denmark becomes the first European economy to confirm it is in recession since the global credit crunch began. Its GDP shrinks 0.6 percent in the first quarter after an 0.2 percent contraction in the fourth quarter of 2007.

-- On September 1, data shows the economy has returned to growth by expanding 0.6 percent in second quarter.

-- In the third quarter, the economy again contracted. This time it was by 0.5 percent.

* August 13: ESTONIA

-- The Baltic state slides into recession with a 0.9 percent fall in second-quarter GDP after a drop of 0.5 percent in the first quarter.

-- It falls deeper into recession in the third quarter when the economy contracted 3.3 percent.