Good sign: Recession ends in Germany and France

The world is getting smaller. So the good news today that Germany and France had unexpected economic growth is a welcome development across the Atlantic. The world economies are more intertwined today than they ever have been before.

Germany and France both reported that they shed recession in the second quarter. Their economies grew at a 0.3 percent rate, figures released today show, according to the Associated Press.

Meanwhile, those two large economies helped ease the recession in the 16 countries that use the euro.

Euro zone gross domestic product fell by only 0.1 percent in the second quarter from the previous three month period, the European Union said.

This news comes on the heels of the Federal Reserve in this country saying the worst is behind us.

Clearly, the U.S. and world economies are still in deep trouble, with unemployment expected to rise. But there are more positive signs lately than there have been since this global crisis began.

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5 comments Add your comment

booger

August 13th, 2009
10:50 am

And all without the benefit of a huge stimulus program. How did they ever do it?

jbmlaw

August 13th, 2009
2:38 pm

Sure France and Germany are recovering – they are not raising business tax rates

Ragnar Danneskold

August 13th, 2009
4:56 pm

If the U.S. doesn’t need to spend all the stimulus money, can it be canceled? Very little has been spent so far.

Sicem

August 13th, 2009
5:26 pm

Obama not tax and spend? LOL! You can forget that. All of the stimulus money will be wasted even if the economy does fix itself.

great news

August 14th, 2009
4:22 pm

They Pioneered the stimulus process in Germany and France