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Eurozone growing but at a snail's pace, Greece out of recession

2014-11-14 1,450 Dailymotion

Eurozone economic growth remains at a snail’s pace, but was stronger than expected in the period from July to September. <br /><br />The preliminary estimate by the European Union’s statistics office Eurostat shows that overall the 18 countries sharing the euro expanded 0.2 percent from the previous quarter <br /><br />That is double the rate between April and June. <br /><br />France beat market expectations, Germany avoided recession and Greece showed signs of revival. <br /><br />Year-on-year, eurozone growth in the third quarter was 0.8 percent, slightly better than economists had expected.<br /><br />Eurostat data showed Europe’s biggest economy Germany expanded by 0.1 percent, so avoiding a second quarter of negative growth. <br /><br />The eurozone’s second biggest France grew 0.3 percent against market expectations of a 0.2 percent gain.<br /><br />Nick Kounis, the head of macro and financial markets research at ABN AMRO, said: “A slow recovery rather than a third recession looks to be on the cards. Having said that, this is not an outlook that p

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