Increasing exports and household spending pull Euro zone out of recession The first signs of the Euro zone recovery were visible, after the bloc’s longest slump, thanks to a drastic improvement in exports across the region, coupled with a return to spending by households and governments. The overall economy in the area has grown by 0.3 percent from April to June according to Eurostat, the European Union’s statistics office. In the same period, exports to the rest of the world rose sharply after previously having falling sales through the preceding six months and government spending made a positive contribution to the economy for the first time since late 2009. Further to the softening of many austerity policies, there was also the first quarterly rise in household spending since 2011. These improvements have led many economists to point to further growth throughout the rest of the year, though they have stopped short of predicting a rapid recovery.
Posted on: Wed, 04 Sep 2013 10:48:55 +0000
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