The German and French economies unexpectedly bounced back in the second quarter, raising hopes of a eurozone recovery. After four consecutive quarters of negative growth, the region’s two biggest economies each grew 0.3% in the quarter through June, data showed on Thursday. The figures confounded economists after German GDP plunged 3.5% and French GDP fell 1.3% in the first quarter. As a result, the eurozone’s Q2 GDP fell only 0.1%, defying forecasts of a 0.5% drop.

This entry was posted by Gwen Robinson on Friday, August 14th, 2009 at 5:08 and is filed under Capital markets. Tagged with eurozone. Edit this entry.