Brussels, 13/11/2009 (Agence Europe) - According to information published by Eurostat on Friday 13 November, the EU has come out of recession. In the third quarter of 2009, GDP increased by 0.4% in the euro area and by 0.2% in the EU27 compared with the previous quarter, when the rates were -0.2% and -0.3% respectively. Compared with the same quarter of 2008, seasonally adjusted GDP decreased by 4.1% in the euro area and by 4.3% in the EU27.
Results vary from one country to another, however. While Germany and Italy recorded rises of 0.7% and France of 0.3%, Spain is still in negative growth (-0.4%). The United Kingdom, too, remains in recession (-0.4%). The overall recovery was expected, but difficulties remain. In its autumn forecast, the European Commission said it expected GDP to fall by 4% in the eurozone and by 4.1% in the EU as a whole over the course of this year. In 2010, growth is expected to be positive, with 0.7% in both areas (see EUROPE 10011).
In the third quarter, GDP grew in the USA by 0.9% compared with the previous quarter, when it was -0.2%. Compared to the same quarter last year, US GDP fell by 2.3%. (A.B./transl.rt)