Even more fuel for the V-shaped recovery crowd: Old Europe, as Donald Rumsfeld called it, is already growing again.
WSJ: German and French economies both grew 0.3% in the second quarter, faring much better than expected and helping ease the contraction of the wider euro-zone GDP, which shrunk by 0.1%.
The euro zone’s economic contraction was slower than forecast, fueling hopes that the 16-nation currency block could emerge from recession much sooner than anticipated, figures from the European Union’s Eurostat statistics agency showed Thursday.
Stocks like the news, with Paris’ CAC 40 up about .80% and Germany’s DAX up 1.40%.
Now we just have to accept the humiliation of being a quarter behind France and Germany in posting positive growth.
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