New data shows eurozone has emerged from recession
The 16 eurozone countries saw economic growth of 0.4 per cent between July and September this year, according to official figures.
Data from the EU statistics body Eurostat revealed that the region’s two largest economies - France and Germany - enjoyed their second successive period of positive growth in the third quarter.
The figures confirm that the eurozone is now officially out of recession, while the British economy is yet to record a quarter of positive growth.
Commenting on the data, Vince Cable described the UK as ’the sick man of Europe’.
The Liberal Democrat shadow chancellor said that a ’successful fiscal stimulus’ was partly responsible for the recovery in the eurozone.
’Had the UK concentrated on building up infrastructure and jobs rather than wasting money on the VAT cut, then we would be in a much stronger position,’ he added.
Recent economic data for the UK showed that the UK economy shrunk by 0.4 per cent in the third quarter.
Related news
Wednesday 16 September 09
Wednesday 30 September 09
Wednesday 30 September 09
Wednesday 30 September 09
Wednesday 30 September 09
Wednesday 23 September 09
Wednesday 02 September 09
|
News categories
|