Eurozone GDP Grows 0.3% Ending Recession

The eurozone has emerged from recession after a record 18 months of economic contraction.

The bloc’s GDP grew by 0.3% in the second quarter of 2013, slightly ahead of forecasts, the Eurostat agency said.

The growth was widely expected after the German economy rose 0.7% between April and June.

However, the overall figure masks the mixed economic fortunes among the countries that make up the 17-country eurozone area.

Germany and France both posted stronger-than-expected growth, expanding 0.7% and 0.5% respectively.

Portugal, among the smallest and the weakest eurozone economies, showed the fastest growth, at 1.1%.

The country was one of three that had to take a multi-billion-euro bailout.

via BBC

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