EU climbs out of 18-month recession led by Germany and France, but still fragile

Wednesday, August 14th 2013 - 20:16 UTC

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European stock markets mostly rose on Wednesday after official data showed that the Euro zone had finally escaped from a record 18-month recession. The Euro-zone climbed out of recession with surprisingly strong growth of 0.3 percent in the second quarter led by Germany and France, announced the European Union. Read full article

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JoseAngeldeMonterrey
0.3 percent in the second quarter!!

This is like: Wow!!
Aug 14th, 2013 - 11:14 pm - Link - Report abuse 0
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Zool
Spain down, Italy Down, Portugal down but GerMoney & France up by just 0.3 is not in anyway a recovery for the Euro. Its the Piggs that must rise to save the Euro not France & GerMoney & they are still continuing their downward slide into oblivion.
Aug 15th, 2013 - 06:56 am - Link - Report abuse 0
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Anglotino
Zool

Not really sure what point you are making here but the 0.3% is for the EUROZONE and not the rate for France or Germany. As for the PIIGS needing to grow, yes they do however they need to do more work to get there. France also needs to do some major work to its economy. Germany however did its restructuring and reforming while the PIIGS were living high on the hog.

Here are the individual growth rates for the last QoQ:
Portugal 1.1%
Malta 0.9%
Germany 0.7%
France 0.5%
Slovakia 0.3%
Greece 0.2%
Austria 0.2%
Belgium 0.1%
Estonia 0.1%

Denmark 0.0%
Finland -0.1%
Spain -0.1%
Italy -0.2%
Netherlands -0.2%
Ireland -0.6%
Slovenia -0.7%
Cyprus -1.4%
Luxembourg -1.6%

So actually Portugal is up and so is Greece. Germany and France are half the Eurozone's GDP so as they grow they will drag the rest along with them.

The PIIGS should hope that Germany and France start growing more.
Aug 15th, 2013 - 07:58 am - Link - Report abuse 0
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thorpeman
To come out of a recession you need two periods of economic growth across two successive economic cycles. One economic cycle is 3 months so to be declared out of recession you need another 3 months of growth
Aug 15th, 2013 - 09:01 am - Link - Report abuse 0
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