THE LOCAL (Germany), LES ECHOS (France)
BRUSSELS – Data released Wednesday showed the economies of Germany and France grew faster than expected between April and the end of June, raising hopes for a recovery across Europe.
The new figures show that Germany enjoyed its fastest growth in more than a year in the second quarter, with GDP expanding by 0.7%, beating earlier forecasts for the period. The results were attributed to an increase in domestic consumption, exports and public investment, German website the Local reports.
Meanwhile, France's GDP also grew 0.5%, which was 0.3% higher than preliminary data published in July, French business daily Les Echos notes. “This number confirms France is no longer in recession” and “amplifies the encouraging signs of recovery”, French Finance Minister Pierre Moscovisci declared Wednesday morning.
Figures for the Eurozone as a whole will be released later Wednesday, but these surprising rebounds from the single-currency area's two biggest economies raise hope for the future of 17 countries that share the euro.