As most economies struggle to make it out of the downturn, Germany and France said goodbye to recession and hello to economic growth in Q02 2009! Both countries reported economic growth of 0.3% during the period, pleasantly surprising analysts who had expected a 0.3% contraction for the European economies.
Unfortunately, the improved performance was not enough to lift the entire EuroZone area out of recession. Nonetheless, the contraction for the 16-nation region was reported at 0.1%, much less than the 2.5% decline recorded in Q01 2009.
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