Germany and France climb out of recession sooner than expected

Germany and France have emerged from the worst recession in decades earlier than expected, triggering hopes that the rest of Europe could soon recover. The surprise rebound in two of Europe’s largest economies meant that the eurozone contracted by just 0.1% in the second quarter, following a 2.5 % slump in the first, the European Union’s statistics office, Eurostat, reported today. Germany, Europe’s largest economy, recorded a surprise rise of 0.3% in gross domestic product, ending its worst recession since the second world war. France also returned to growth, mirroring Germany’s rise in GDP. Economists had pencilled in declines of 0.3% for both countries. Träumt weiter!

Germany and France climb out of recession sooner than expected

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