Glimmers of recovery on the horizon for the Old Continent, while Italy is still struggling. In the second quarter, the Gross Domestic Product of the Eurozone emerges from the recession, returns to growth and marks a +0,3 percent compared to the previous three months. A result that exceeds expectations (+0,2 percent) and which comes after 7 consecutive quarters of contraction. The estimates are from Eurostat.
If the countries of the euro area are smiling, Rome is still on the lookout, waiting for good news. In Italy, the GDP is still negative (-0,2 percent). Driving the European recovery are Paris and Berlin.
France technically seems to have come out of the recession: the transalpine economy returned to growth in the second quarter of the year, exceeding market expectations, above all thanks to strong internal demand. According to data published by the Insee statistical office, the French gross domestic product for the second quarter of the year marked a growth of 0,5% compared to the previous quarter and 0,3% on an annual basis. In both cases, these are results that go beyond market expectations.
Things are even better in Germany, where there is an improvement in GDP of 0,7 percent compared to the previous three months, the highest rate of increase in the last year. According to the German statistics office, the positive result derives mainly from the increase in private domestic consumption and public spending.
