Germany and France Show Signs of Economic Recovery
As per recent reports, it has been revealed that Germany has been showing signs of healthy growth. It was said so, as the German gross domestic product has improved more than the expected level.
Moreover, it was later found country's GDP has increased by 0.2% in contrast to predicted growth of 0.2%. In addition, it has been revealed that France has also been recovering well, as its economy increased at 0.2%.
Experts affirmed that it was not at all expected from France that its economy will expand. Though both the news was great, they were not able to save European Union from slipping into recession. It was found that the EU's economy contracted by 0.1%.
Joerg Kraemer, who is positioned as Chief economist at Commerzbank AG, which is in Frankfurt, said that they are happy that economy of Germany has been recovering well. It would not be wrong to say that Germany has given positive news with regard to economy after a long time, said Kraemer. "This was probably the last reasonably solid quarterly figure from Germany for a while", he continued.
The statistics office has announced that they will come up with a detailed report about GDP of third quarter on Nov 23.
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