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Sat, Aug 14, 2010 - Page 10 News List

Germany leads Europe’s GDP pickup

SETTING THE PACE Europe’s biggest economy posted growth of 2.2 percent in the second quarter, while France and Spain expanded by 0.6 percent and 0.2 respectively

AFP , FRANKFURT, GERMANY

Spain, which only came out of recession in the first quarter with 0.1 percent growth, released figures showing its economy rose 0.2 percent in the second quarter.

Romania, which has implemented draconian spending cuts in order to grasp a 20 billion euro (US$25.7 billion) lifeline from the EU and the IMF, posted quarterly growth of 0.3 percent.

Romania had previously seen its GDP shrink for six quarters in a row, as it faced one of the worst recessions of any EU member state.

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