.
.
Germany and France "exit recession".
BERLIN/PARIS (Reuters) - Germany and France achieved a shock return to economic growth in the second quarter of the year, ending their recessions earlier than many policymakers and economists expected, but failed to drag the euro zone with them.
German gross domestic product rose by 0.3 percent in the second quarter, bringing an end to the country's deepest recession since World War Two.
French GDP also grew by 0.3 percent in the second quarter. The consensus in a Reuters poll of economists had predicted a 0.3 percent quarterly contraction in both countries.
However, in the 16-nation euro zone, GDP slid by 0.1 percent on the quarter, following a 2.5 percent drop in the first quarter. Though this was well above the 0.5 percent fall forecast before the French and German figures were released.
Aside from the euro zone's big two biggest economies, other member nations continue to contract - Italy's economy dropped by 0.5 percent in the second quarter, Austria and Belgium shrank by 0.4 percent and the Netherlands contracted by 0.9.
Greece and Portugal, though, grew by 0.3 percent.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment