Economics
Euro-Area Exports Drive Rebound After Record Recession
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The euro-area economy returned to growth in the second quarter after a record-long recession, driven by a rebound in exports from the 17-nation currency bloc.
Gross domestic product rose 0.3 percent from the previous three months, in line with an Aug. 14 estimate, the European Union’s statistics office in Luxembourg said today. From a year earlier, the economy shrank a revised 0.5 percent. The European Central Bank forecasts a 0.6 percent contraction this year before the region returns to growth in 2014.