The French and German economies both grew by 0.3% between April and June, bringing to an end year-long recessions in two of Europe's largest economies.
BBC NEWS | Business | France and Germany exit recession
<Mod> This thread has been merged with "France and Germany emerge from recession". </Mod>
Last edited by stringjack; 14th August 2009 at 02:21 PM. Reason: Merged thread.
The French and German economies both today reported a return to growth in the second quarter, bringing an end to recession in two of Europe's biggest economies.
Both countries reported growth in gross domestic product (GDP) of 0.3 per cent in the three months to the end of June, on the back of more positive net trade figures and higher consumption in the public and private sectors — a scenario that few economists and market-watchers had predicted.
Many other European countries remain mired in recession. Italy’s GDP fell by 0.5 per cent in the second quarter, Spain’s economy declined by about 0.9 per cent and Holland's shrank by 0.9 per cent.
However, the positive data from France and Germany helped to ease the recession in the 16-nation eurozone, with GDP falling by a much less than expected 0.1 per cent between April and June.
Although it was the fifth consecutive decline in economic output in the 16 countries that use the euro, the marginal fall boosted hopes that the recession in the eurozone could already be over.
GOD BLESS THE EURO-ZONE!
Still, even as the investor consensus ravages the euro, it's worth remembering that the same herd instinct not long ago was pronouncing last rites for the dollar. Last year, as China's central bank chief called for a new global currency and Russian central bankers dumped greenbacks to buy euros, many saw the dollar's decline as inevitable. Now, the dollar is riding high, and the euro looks bedraggled.
"Views might change very quickly"
How much had china to do with this creating a massive stimulus package on infrastructure ,and a property investment bubble in the last 8/9 months thatwill blow.Have a look at the baltic dry index it's dropping after a bit of a rally in may,june july ,ships are sitting in the ports .
A champion of the people emerges with the age-old and appealing promise of "something for nothing" - to be financed through every-increasing taxes. Supply and demand are thrown out of gear - the overhead goes up; the effective use of human energy goes down; the standard of living is lowered because money cannot buy wealth that is not produced.
WEAVER, HENRY GRADY,
This bodes well for the Lisbon Referendum
Uh-oh. When do interest rates start to rise....?
Last edited by BrendanGalway; 13th August 2009 at 12:09 PM.
Yeap it will be great as the Germans and French improve up go the interest rates,we keep going backwards ,more defaults ,more hardship.
A champion of the people emerges with the age-old and appealing promise of "something for nothing" - to be financed through every-increasing taxes. Supply and demand are thrown out of gear - the overhead goes up; the effective use of human energy goes down; the standard of living is lowered because money cannot buy wealth that is not produced.
WEAVER, HENRY GRADY,
You think?Originally Posted by liberals
This bodes well for the Lisbon Referendum
Germany coming out of recession despite not ratifying the treaty!!
More proof, if it was needed, that the economy has absolutely nothing to do with the Lisbon treaty.
this great for lisbon, germany will ratify the treaty anyway.
Still, even as the investor consensus ravages the euro, it's worth remembering that the same herd instinct not long ago was pronouncing last rites for the dollar. Last year, as China's central bank chief called for a new global currency and Russian central bankers dumped greenbacks to buy euros, many saw the dollar's decline as inevitable. Now, the dollar is riding high, and the euro looks bedraggled.
"Views might change very quickly"
Woo-Hoo!
Smewhere to emigrate to!
As someone who is debt-free I, for one, welcome our new teutonic interest rate-setting overlords.
Last edited by mr_anderson; 13th August 2009 at 12:12 PM. Reason: spelling
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