LONDON (AP) — Official figures show that the 16-country euro area has joined the United States and Japan out of recession after the bloc’s economy grew by 0.4 per cent in the third quarter.
However, the rise in output reported Friday was not as big as most economists had been predicting, as growth in the eurozone’s major economies, such as Germany and France, fell short of expectations.
Not all the eurozone is out of recession, though. Figures Thursday showed Spain’s economy contracted again in the third quarter.
The EU as a whole, including non-euro countries like Britain and Sweden, is also out of recession, after growing 0.2 per cent in the third quarter.