From The BBC:
The French and German economies both grew by 0.3% between April and June, bringing to an end year-long recessions in Europe’s largest economies.Stronger exports and consumer spending, as well as government stimulus packages, contributed to the growth. The data came as a surprise, with few analysts expecting Germany and France to start to recover so soon. But economic activity in the eurozone fell by 0.1%, showing the region as a whole is still in recession. It was the fifth consecutive quarter of economic contraction in the eurozone, but was a marked improvement on the 2.5% drop recorded in the first three months of the year. UK reaction
Germany and France can now say they are technically out of recession, while the UK is still in it. The UK government’s claims that it is a global recession maybe rings a little less true in terms of the mood music from each country over the last couple of days. We’ve had the French finance minister hailing the figures as a sign of recovery and more opt…
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