Steel Products
August 23, 2013
European Economy on Slow Path to Recovery
Written by Sandy Williams
The European economy finally seems to be on the road to recovery. In figures released by the European Commission, GDP in the second quarter rose by 0.3 percent in the Eurozone—a small but positive indicator of growth.
The growth was led by Germany and France where GDP improved by 0.7 percent and 0.5 percent, respectively. Positive signs are also seen in countries in southern Europe that are most deeply entrenched in recession. Decline is slowing in Italy, Greece and Spain. Portugal pulled out of its downward trend and posted a 1.1 percent improvement in its GDP.
