Eurozone emerged from recession
The eurozone has emerged from recession after a record 18 months of economic contraction. The bloc's GDP grew by 0.3% in the second quarter of 2013, slightly ahead of forecasts, the Eurostat agency said.
The growth was widely expected after the German economy rose 0.7% between April and June. However, the overall figure masks the mixed economic fortunes among the countries that make up the 17-country eurozone area. Germany and France both posted stronger-than-expected growth, expanding 0.7% and 0.5% respectively. Portugal, among the smallest and the weakest eurozone economies, showed the fastest growth, at 1.1%.The figures reaffirm Germany's position as the powerhouse behind the eurozone.
0 comments
Write Down Your Responses