Economist: Euro zone finally emerged from the longest recession in its history this week

Germany

Germany (Photo credit: sanctumsolitude)

The Economist has the head-line, “Glimmers of a European recovery.” It reports, the euro zone finally emerged from the longest recession in its history this week, putting six consecutive quarters of contraction behind it as the economy returned to modest growth. The currency union‘s strongest member, Germany, led the way with robust GDP growth of 0.7%, but most euro zone economies saw improvement. My analysts and I have been following the euro crisis closely since its inception, and despite the latest data we remain cautious about recovery prospects. High unemployment, fiscal austerity and political instability—among other factors—will continue to hamper growth. Yet while the road ahead remains long and hard, the end of recession is a start. That alone will bring some relief to European businesses and their trading partners in other parts of the world.
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